NEWSGENERAL NEWSJUST IN: 10% Further Reduction In Petroleum Products Prices;...

JUST IN: 10% Further Reduction In Petroleum Products Prices; Good News Drops For Ghanaians Again -See More Details

-

Further Reduction In Petroleum Products Prices; Good News Drops For Ghanaians Again -See More Details.

fuel

Prices of petrol and diesel are expected to go down between 10% and 8% from Thursday, December 1, 2022, the Institute for Energy Security has projected.

The price of Liquefied Petroleum Gas (LPG), however, is expected to remain stable on account of the cedi’s depreciation.

This will be the second consecutive period that prices of petrol and diesel will be going down.

“Prices of the various finished products will be affected by the 13.45% fall in the price of gasoline [petrol], the 11.63% fall in the price of gasoil [diesel], and the 1.88% fall in the price of LPG.

However, the 3.09% depreciation of the cedi against the US dollar is expected to erode portions of the gains from the reductions in international fuel prices. The price of LPG is however expected to remain stable on account of the cedi’s depreciation”.

World Oil Market

On the international market, Brent crude saw a 6.31% decrease in price over the previous window’s average price of $95.11 per barrel to the present average price of $89.11 per barrel.

As fresh worries surrounding China roiled global markets on Monday [November 28, 2022], oil prices fell to their lowest levels in 11 months.

Presently, crude oil is hovering around $86 per barrel.

Diesel prices went down significantly

During the last price review, petrol sold at ¢16.31 per litre, from 17.62, representing a 7.43% reduction over the period.

Diesel also fell by roughly 13.91% to ¢19.86, from ¢23.07.

Myjoyonline.com

Latest news

Meet The Man Who Donated All The Money His Grandfather Gave Him To A Church And Landed A Fortune

A businessman and real estate developer, Kwadwo Saka Addo Mensah, has detailed the story behind how he became a...

Why Elon Musk Sell X For $33 Billion

Elon Musk on Friday evening announced he has sold his social media company, X, to xAI, his artificial intelligence...

Two Landguards Arrested For Stabbing 2 At Kasoa Ofaakor

The Kasoa Ofaakor District Police Command in the Central Region has arrested two suspected landguards for stabbing two individuals...

Hair Relaxers Linked To Increased Breast Cancer Risk In Ghanaian Women – Details

Hair relaxers, used by many Black women for sleek, straight hair, may pose a significant breast cancer risk. The Ghana...

We’ve Not Frozen Richard Nii Armah Quaye’s Bank Accounts – GRA

The Ghana Revenue Authority (GRA) has dismissed claims that it has frozen the bank accounts of businessman Richard Nii...

Parliament Approves GH¢31.7 Billion Budget Allocation For Ministry Of Education

The Parliament of Ghana has approved a total sum of GH¢31,772,464,382.00 to finance the operations of the Ministry of...

Must read

Meet The Man Who Donated All The Money His Grandfather Gave Him To A Church And Landed A Fortune

A businessman and real estate developer, Kwadwo Saka Addo...

Why Elon Musk Sell X For $33 Billion

Elon Musk on Friday evening announced he has sold...

You might also likeRELATED
Recommended to you