Petrol likely To Sell Above GH¢10 In The Next Few Days, IES predicts

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In the first pricing window of June, the Institute for Energy Security (IES) predicts a spike in gasoline (petrol) prices ranging from 5% to 9%.

Gasoil (Diesel) and Liquefied Petroleum Gas (LPG) prices, on the other hand, are expected to remain stable during the same time period, according to the Institute.

According to the IES Market scan, the current national average price for gasoline and gasoil is Gh9.75 per litre and Gh11.71 per litre, respectively.

However, the Institute claims that, as a result of the Cedi’s depreciation and an 11.05 percent increase in the price of gasoline on the international fuel market, gasoline in Ghana is expected to sell for more than Gh10.00 per litre, or Gh45 per gallon.

Despite the drop in price on the world market, the price of Gasoil may cross the Gh12.00 per litre (Gh54.00 per gallon) threshold in most OMCs due to the value of the Cedi against the greenback.

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