Business News of Saturday, 15 June 2024
Source: Joy Business
Fuel prices to go up marginally from June 16, 2024 – IES
The cedi's continued poor performance is expected to prevent price reductions at local pumps
The Institute for Energy Security (IES) has predicted a marginal increase in petroleum prices in the second half of June 2024 due to the Ghana cedi's worsening performance, despite falling international prices for petrol, diesel, and LPG.
Over the last two weeks, petrol prices dropped by 5.49%, diesel by 2.82%, and LPG by 1.48%.
However, the cedi's 3.44% depreciation against the US dollar is expected to offset these international declines, preventing a reduction in local fuel prices.
The first pricing window of June saw petrol at $804.93 per metric tonne, diesel at $728.52, and LPG at $438.20.
