Prices of petrol and diesel are expected to drop significantly between 7.1 percent and 10.8 percent at the pumps today, Thursday, February 16, 2022.
It is projected that petrol will sell at about 14 cedis 40 pesewas and diesel will be offered at about 13 cedis 90 pesewas per liter.
A kilogram of LPG will be sold at 14 cedis 70 pesewas before the close of the second pricing window of February 2023.
The Institute for Energy Security said the expected fall in petrol and diesel prices is due to a marginal appreciation of the cedi to the dollar and a drop in the prices of petrol and diesel globally.
Research and Policy Analyst with the Institute of Energy Security, Adam Yakubu disclosed this during an engagement with the media.
He said, ” International Petroleum market as observed by S&P realise that the prices of products have dropped, and so immediately crude prices are coming down which will translate into the prices of petroleum products.
The petroleum also saw some marginal drop, so when you put all these factors together and our cedi stabilisation, and even gained some one percent against the dollar.
When you put these factors together and shoot it against the prices, you will see that definitely the prices will come down”
