JUST IN: Fuel prices to drop soon – Check the date and the percentage
From April 1, 2023, fuel prices will be dropping between 2% and 9% for the third time with Liquefied Petroleum Gas (LPG) also about to witness its biggest decline.
The Institute for Energy Security reports that LPG will fall by 9%, with petrol and diesel witnessing a between 2% and 5%.
According to the institute, the stability of the Ghana cedi against the dollar has attributed to the drop in prices of fuel and finished products on the world market.
The Executive Director of the Institute for Energy Security, Nana Amoasi VII, explained that;
“Fuel consumers must expect another round of fuel price drops in the coming days. The imminent price drop is a reflection of happenings on the world fuel market over the past two weeks which shows decline in prices of gasoline(petrol), Liquefied Petroleum Gas(LPG) and some other finished products.”
“In the last 14 days, the price of gasoline [petrol] on the world market posted a drop of $21 per metric tonne. Gas oil (diesel) also dropped by roughly 3.6% from the previous price of $813 per metric tonne.”
“LPG is the product has the biggest price drop over the last two weeks on the world market. The commodity’s price fell by $95 per metric tonne, which is about 15%.” He added.
“Ghanaians should expect some relieve from the high fuel prices which took place six months ago. And households that rely on LPG will be the most beneficiaries because a huge drop in prices in the coming days.” He concluded.
cngonline.com