Grapevine

Petrol, diesel prices to go down or remain stable; LPG to increase marginally

Fuel pump

The price of petrol and diesel are expected to remain same or go down for the next two weeks, beginning October 1, 2024, the Institute for Emery Security have revealed.

However, the price of Liquified Petroleum Gas (LPG) is likely to rise marginally without any external policy intervention.

“Following the mixed reactions in the international fuel market during the closing weeks of September [2024], gasoil and LPG recorded price hikes of approximately 1.5% and 3.83%, respectively, while gasoline [diesel] experienced a decline in price. Additionally, the local cedi has seen a marginal depreciation against the U.S. dollar, trading about 0.49% lower than its counterparts. Given these developments in both the local currency and foreign fuel markets, the local market is expected to experience slowed price movements for liquid fuels, reflecting a degree of stability”.

World Oil Market