Beginning this Friday, December 16, 2022, the Institute of Energy Security (IES) forecasts a dramatic decline in petroleum product prices.
The predicted price cuts would be substantial, according to IES, as a result of the cedi’s 6.60% strengthening against the US dollar.
According to the report, the new pricing for gasoline and diesel will be between 13 and 16 cents per liter, while liquefied petroleum gas will cost between 12 and 13 cents per kilogram.
READ ALSO: Kennedy Agyapong Begs Ghanaians To Vote For Him As President For Just 4 Years
Before then, certain Oil Marketing Companies (OMCs) started lowering the cost of gasoline at the pump.
“Consumers should expect greater price relief at the pumps given the ongoing price declines observed on the global market. According to the Institute for Energy Security (IES), domestic OMC outlets would likely lower their pricing further as a result of the respective 9.02%, 8.08%, and 7.38% drops in the price of gasoline (petrol), gasoil (diesel), and LPG.
