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HomeBusinessFuel prices to reduce drastically from Dec 16, 2022 – IES

Fuel prices to reduce drastically from Dec 16, 2022 – IES

The Institute for Energy Security (IES) has announced a fall in the prices of petroleum products from this Friday, December 16, 2022,

According to the IES, this is due to the 6.60% appreciation of the cedi against the US dollar.

It predicts the new prices to fall to about ¢13 and ¢16 per litre for petrol and diesel, whilst Liquefied Petroleum Gas will drop to ¢12 per kilogram.

“With the continued price falls recorded on the international market, consumers are set to see further price relief at the pumps. The Institute for Energy Security (IES) predicts that on the back of a 9.02%, 8.08% and 7.38% fall in prices of Gasoline [petrol], Gasoil [diesel] and LPG respectively, the domestic OMCs outlets are set to reduce their prices further”, it explained.

Meanwhile, some Oil Marketing Companies (OMCs) have commenced reducing the prices of petroleum products at the pumps.

Star Oil now sells Petrol at GHC12.99 per litre and Diesel at GHC15.79 per litre.

ZEN Petroleum sells Petrol at 13.47 per litre, and Diesel at GHC16.51 per litre respectively.

By Lawrence Odoom

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