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Diesel price to reduce; gasoline price to remain stable — IES

Business & Finance Diesel price to reduce; gasoline price to remain stable — IES
APR 13, 2021 LISTEN

The Institute for Energy Security (IES) is projecting a fall in the price of diesel but a stabilised price for gasoline in the April 2021 second pricing window.

Prices of the commodities in the last few windows marginally increased due to factors on the international market and the performance of the Ghana cedi against the international currency, particularly the US Dollar.

Having caused a slight increase in the charges at pumps across the country, the IES in its latest review says it is expecting the price of diesel to drop in the last half of April.

“With the 2.40% decrease in price of the International Benchmark- Brent crude, the 2.65% decrease in price of Gasoil, the 1.83% increase in Gasoline price and the 0.17% depreciation of the local currency against the US Dollar; the Institute for Energy Security (IES) projects for price of gasoil (diesel) on the domestic market at the various pumps to reduce,” part of a press release from the non-government Organisation has said.

The IES press release adds, “Gasoline (petrol) prices are however expected to remain as we continue into the second half of April 2021.”

Meanwhile, as a result of the target to increase market share, the IES says the various OMCs may decide to reduce the price of both products.

Find below the full press release from the Institute for Energy Security:

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Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

JournalistPage: EricNanaYawKwafo

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