Fuel prices to decrease by 4% in August – IES

The Institute for Energy Security (IES) predicts a 2-4% drop in fuel prices for the first half of August 2024, driven by favorable global market conditions.

This includes expected decreases in gasoline, gas oil, and liquefied petroleum gas (LPG) prices.

In July 2024, gasoline prices fell by 2.99%, gas oil by 4.59%, and LPG by 1.10%, supported by a slowed depreciation of the Ghana Cedi.

IES Research Analyst Adam Yakubu attributed this trend to positive international market dynamics and minimal cedi depreciation.

Currently, gasoline and gas oil are priced at GH₡14.23 and GH₡14.70 per litre, and LPG at GH₡15.22 per kilogram.