Fuel prices to fall up to 11% in February ‘23

Petrol and diesel prices are expected to fall by 7.1% to 10.8% at the pump, beginning Thursday February 16, 2022.

However, Liquefied Petroleum Gas (LPG) prices will rise over the next two weeks.

According to the Institute for Energy Security (IES), petrol will cost around $14.40 per litre in the coming days, while diesel will cost around $13.90 per litre.

However, the price of a kilogramme of LPG may rise to $14.70 before the end of the second pricing window in February 2023.

The expected drop in petrol and diesel prices is due to a marginal appreciation of the cedi against the dollar and a drop in global petrol and diesel prices.

“Following a global market drop in the price of Gasoline [petrol] and Gasoil [diesel] by some -1.60% and -12.80%, respectively, an increase in the price of LPG by 9.13% on the foreign market, and a marginal appreciation of the Ghana cedi against the US dollar, the domestic fuel market is expected to see significant price changes at the pumps,” the think tank said.

Source: Energy Ghana