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Price of LPG won’t reduce in Ghana despite reduction on world market – IES

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“In IES’ estimation, Gasoil’s price per litre is set to break the Gh¢20.00 mark, with a gallon price possibly going for Ghc90.00 on the market. Gasoline price may also inch close to Gh¢18 per litre by mid-November 2022.|

“Unfortunately, the 1.43% fall in the price of LPG on the world market may not translate into a reduction at the domestic pump, as it may offset Cedi’s depreciation, and rather force the price of the commodity to rise further in the coming days,” portions of a statement copied to this website read.

The statement was released by the Institute for Energy Security (IES) and signed by Fritz Moses, a Research Analyst.

When Mr. Moses spoke on A1 Radio’s Day Break Upper East Show, he explained that Ghana is not going to a reduction in the prices of LPG because of the continued decrease in the Ghana’s currency.

“We saw a 1.51 percent decrease in the price of LPG. That marginal decrease would not necessarily translate into a decrease on the Ghanaian market because same for LPG like we are seeing for diesel, it is bought in dollars even though a majority of it is sold from the Atuabo Gas Plant, it is bought in dollars,” he said.

Source: A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana

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