The IES has also predicted that the prices of petrol and diesel will also remain unchanged in the period.
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Price of LPG to go down by 5%; petrol, diesel prices unchanged
The price of Liquefied Petroleum Gas (LPG) is expected to fall by about 5% in the first two weeks of the month of June 2023, according to the Institute for Energy Security (IES) projection.
LPG price to go down 5% in the first two weeks of June.
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The Institute for Energy Security (IES) explained that the development is due to the Ghana cedi’s strong performance on the domestic forex market during the last two weeks, and the drop in the price of LPG on the international market, though international prices of the liquid products shot up.
“The Institute for Energy Security’s (IES’) review of prices over the past two weeks as monitored by Global Standard & Poor (S&P) Platts platform indicate the prices of Gasoline [ptrol] and Gasoil [diesel] have increased at 4.20% and 2.70% respectively whereas Liquefied Petroleum Gas (LPG) decreased by 5.80%”.
“The Ghana cedi also gained 5.42% against the U.S dollar over the two weeks trading period on domestic forex market”, it added.
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Meanwhile, the national average price per litre of petrol and diesel is currently GH¢11.90 and LPG at about ¢13 per kilogramme.
On the international market, the price of Brent crude oil continued trading below $80 per barrel in the last two weeks.
The average price per barrel over the window traded at about $75.90 per barrel.
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