Fuel prices are expected to fall between 2% and 5% at the pumps in the coming days, the Institute for Energy Security has projected.
This is due to the gains realised in the foreign fuel market and the slower depreciation of the local currency.
“The international fuel market has seen a significant drop in the prices of refined petroleum products: Gasoline [petrol] (-10.62%), Gasoil [diesel] (-6.09%), and LPG (-2.40%). The Ghanaian cedi also experienced its slowest depreciation in the first pricing window for September, with a change of - 0.09% against the U.S. dollar”.
World Oil Market
Oil prices edged higher in September 11, 2024, with Brent crude for November 2024 delivery up 2.12% to trade at $70.66 per barrel. WTI crude for October 2024 delivery also gained 2.39% to change hands at $67.32 per barrel.
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