Business News of Wednesday, 29 May 2024
Source: Joy Business
Fuel prices to go up in first half of June 2024 – IES predicts
This is based on the developments in the foreign fuel market and the domestic forex market
Fuel prices in Ghana are expected to rise in early June 2024 due to the weakening performance of the cedi against the U.S. dollar, despite global price drops.
The Institute for Energy Security (IES) noted that international prices for petrol, diesel, and LPG fell by 4.17%, 0.87%, and 3.44% respectively.
However, the cedi's 4.17% decline has offset these gains. IES reported that petrol, diesel, and LPG prices were stable locally in May 2024, with national averages at GH₡14.22 per litre for petrol, GH₡14.00 for diesel, and GH₡15.63 per kilogramme for LPG.
