Prices of petroleum are predicted to fall significantly.
The Institute of Energy Security (IES) has predicted that fuel prices will fall significantly from Friday, December 16, 2022.
The predicted price cuts would be substantial as a result of the cedi’s 6.60% strengthening against the US dollar this week.
The new pricing for petrol and diesel will be between 13 and 16 cents per litre, while liquefied petroleum gas will cost between 12 and 13 cents per kilogramme.
Before then, certain Oil Marketing Companies (OMCs) started lowering the cost of petrol at the pump.
“With the continued price falls recorded on the international market, consumers are set to see further price relief at the pumps.
“The Institute for Energy Security (IES) predicts that on the back of 9.02%, 8.08% and 7.38% fall in prices of Gasoline [petrol], Gasoil [diesel] and LPG respectively, the domestic OMCs outlets are set to reduce their prices further”, IES said.