Fuel to go up by 2.5% – IES

The Institute for Energy Security (IES) has projected that fuel price will go up by 2.5 per cent in the second pricing window of April, barring any intervention from government.

According to IES in a statement signed by Principal Research Analyst Richmond Rockson and released on Sunday, 15 April 2018 said,

• Guided by the fundamental indicators such as rise in price of Gasoline, Gasoil and Brent crude on the international oil market, the country’s fuel stock as well as the fair-stability of the country’s local currency against the U.S. Dollar;
• The Institute for Energy Security (IES) sees fuel prices primed to rise again on the local market by up to 2.5%

As projected by the institute,

• All Oil Marketing Companies (OMCs) increased prices of Gasoline and Gasoil at an average of 2%.
• The national average selling price of a litre of Gasoline and Gasoline currently stands at Ghs 4.57 and Ghs 4.56 respectively.
• IES-Market scan indicates Zen Petroleum, Benab Oil, Pacific, Lucky Oil and Frimps Oil lead the chart of Oil Marketing Companies (OMCs) selling the cheapest fuel per litre at the pump.

source: oneminutegh.com