IES predicts a drop in prices of petrol, LPG by 4% in the first pricing window of July
The Institute for Energy Security has predicted a 4% per litre drop in the price of petrol.
The institute says the drop is expected to drop at the various pumps in the 1st pricing window of July.
The IES in its analysis stated that the reduction can be attributed to the 3.20% fall in the price of Gasoline, a 15.71% fall in the price of LPG, and a 2.05% appreciation of the cedi against the US Dollar.
IES further posited that the price of petrol is projected to reduce by roughly 4%, to sell below GH¢10.50 per litre while the price of Liquified Petroleum Gas (LPG) is projected to fall further by approximately 4% from its current price.
It however explained that the 1.97% rise in the price of Gasoil on the international fuel market may either cause stability in the current price of Gasoil, or a marginal jump in price at the pumps of the various OMCs.