The Institute for Energy Security (IES) has hinted an increase in prices of petrol, diesel and Liquefied Petroleum Gas (LPG), from February 1, 2023, for the next two weeks.
Despite government’s introduction and receipt of about 40,000 metric tonnes of fuel under the gold for oil policy which seeks to source cheaper fuel in exchange for gold, the institute is predicting about 7 to 13 percent increase in three commodities beginning next month.
This means petrol will sell at about ¢15 per litre, whilst diesel will go for over ¢17 per litre and LPG will sell at about ¢14 per kilogram.
According to the IES, the rise in domestic fuel prices, is due to the sharp depreciation of the cedi during the last few weeks and the rising international fuel prices as observed on the global S&P Platts platform.
Currently, the national average price per litre of Gasoline increased to Gh¢13.58 from Gh¢12.54, and Gasoil from Gh¢14.40 to Gh¢15.36 during the second pricing window in January.
