The Institute for Energy Security (IES), has predicated a rise in Liquefied Petroleum Gas (LPG) prices in the coming days, while liquid fuel prices remain stable.
Despite fluctuations in the global oil market, local fuel prices have shown resilience, with Oil Marketing Companies (OMCs) maintaining steady prices for liquid fuels.
“Following the recent changes on the international market with Gasoil [petrol] and Gasoline [diesel], prices falling by 4.06% and 0.24%, while Liquefied Petroleum Gas price surged by 7.41%, the Ghana cedi continue to record depreciation of about 1.09%. The local fuel market is expected to price liquid fuels stable in the coming days. On the other hand, LPG price is likely to rise by 4% in the second half of March [2024]”.
However, consumers should brace for a potential surge in LPG prices, with expectations of a 4% rise in the second half of March 2024.This forecast is based on recent international market dynamics, where LPG prices have seen a notable 7.41% increase.
Find below the statement
IES_MARCH_2024_SECOND_PRICING_WINDOW_PROJECTION
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