Energy Analyst, Benjamin Nsiah has predicted that fuel prices are likely to be reduced by Sunday, January 1, 2023.
There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH¢15 while the price of petrol is hovering around GH¢12.
The projection is based on the prices of gasoline and liquefied petroleum gas falling by 5.28% and 5.09% respectively, as well as the cedi appreciation by 26.51% against the US dollar in the second pricing window of December.
“Fuel prices are to decline further on 1st January 2023, petrol is to decline about 15% and diesel to decline about 8%,” he said.
Petrol is expected to decline by about 15% selling between Ghc9.30/L and Ghc11.38/L depending on the OMC.
Diesel is expected to decline by about 8% selling between Ghc12.80/L and Ghc14.60/L depending on the OMC
OMCs like Zen, Star Oil, Allied Oil, Goodness, Alinko and JP Trustees are most likely to sell their petrol at single digits around Ghc9per litre.
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