The price of Liquified Petroleum Gas, LPG is expected to drop by 5 per cent while petrol and diesel are likely to remain unchanged.
In the first pricing window of June 2023, the Institute of Energy Securities, IES is attributing this to the strong performance of the local currency and the fall in LPG prices in the international market.
The projected decline in LPG and the stability in the prices of petrol and diesel are expected to take effect on Thursday, June 1, 2023.
“The Institute for Energy Security’s (IES’) review of prices over the past two weeks as monitored by the 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.
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.
