ADVERTISEMENT
Prices of fuel drop marginally
Goil, Shell and Total Ghana are selling both Petrol and Diesel at GHC 5.15 pesewas across the country.
___8728838___2018___8___15___15___1.11043728
The reduction follows a previous increase in prices of petrol and diesel by all 3 major OMCs to GHC 5.21 pesewas per litre in the last pricing window.
READ ALSO: We no longer trust Menzgold – Menzgold customersWe no longer trust Menzgold – Menzgold customers
ADVERTISEMENT
The IES said their prediction was due to the fall in Brent crude prices, and finished products on the international market, as well as the cedi’s respectable gains against the dollar, could lead to prices dropping at the pumps.
The IES said the reduction will bring some relief to Ghanaians in the first pricing window in November.
Research Analyst at the IES, Mikdad Mohammed told Accra-based Citi FM that they expect some OMCs to be influenced by the Price Deregulation policy to effect reductions beyond the projected margin.
“Unlike the previous window where we have had the depreciation of the cedi lead the increment, this particular window has had two major positive news. IES economic data show that we had an appreciation of around 2.4 percent from the cedi against the dollar.”
ADVERTISEMENT
“For Brent crude, we have had a reduction of about 5 percent and finished products have now come down too. When you take gas oil, for example, it has come down by about 5 percent, gasoline has also come down to beyond 2 percent. It is the cumulative effect of all of these indices that IES foresee a reduction in prices from the current 5cedis, 21 pesewas to about 5cedis, 10 pesewas,” he added.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Nana Addo assures he will prioritize the welfare of cocoa farmers
Truck driver arrested for allegedly causing train accident on Tema-Mpakadan railway line
Kia driver who caused accident involving Ghana’s new train reports himself to Police
No passenger injured in accident involving Ghana’s newly imported train – Railways Minister
NAGRAT gives govt one-week deadline to address unpaid pensions affecting 700,000 workers
Inside story of how Ghana’s new train got involved in accident on a test run
3 years after he was declared dead, German-American billionaire found in Russia
She sent naked photos to Dubai lover while I battled kidney disease - Erico speaks on divorce