The Institute for Energy Security(IES) has predicted that the price of Liquefied Petroleum Gas (LPG) will go up by about 4% in the second pricing window of March 2024.
However, the prices of petrol and diesel are expected to stay the same for the next two weeks.
“Following the recent changes on the international market with Gasoil [petrol] and Gasoline [diesel], prices falling by 4.06% and 0.24%, while Liquefied Petroleum Gas price surged by 7.41%, the Ghana cedi continues to record depreciation of about 1.09%. The local fuel market is expected to price liquid fuels stable in the coming days. On the other hand, LPG price is likely to rise by 4% in the second half of March [2024]”.
The IES computation of fuel price data sampled in the second pricing window of March 2024 put the national average price for diesel at GH¢14.42 and petrol at GH¢13.42 per litre respectively on the local fuel market performance.
LPG also went for GH¢13.65 per kilogramme (kg).
Though the prices of finished products in petrol and diesel on the international market fell by 4.06% and 0.24% respectively during the past two weeks, the Ghana cedi continued to record a depreciation of about 1.09%.
On the world fuel market, the Global Standard & Poor (S&P) Platts platform tracking of refined petroleum price data published price per metric tonne performance as $836.38, $842.53 and $643.90 for diesel, petrol and LPG respectively, the IES said.
Analysing the published price data over the period indicates a decrease in refined liquid fuels and an increase in LPG.
Specifically, the net price effects realized because of the change indicate 4.06% and 0.24% for diesel and petrol and 7.41% for lPG.