Fuel prices may not change in April-IES

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The price of fuel at various pumps is likely to remain unchanged according to the Institute of Energy Security.

A press statement released by the IES shows that a decrease of 2.05% in the price of the international Benchmark Brent Crude, the 2.84% decrease in the price of Gas-oil, the 1.89% decrease in gasoline and the relative stability of the local currency against the US Dollar during the period under review, can be attributed to their projection of unchanged prices at the pumps. As a result of the factors including the 2.05% decrease in price of the International Benchmark- Brent crude, the 2.84% decrease in price of Gasoil, the 1.89% decrease in Gasoline price and the relative stability of the local currency against the US Dollar; the IES has made a projection that the price of fuel on the domestic market at the various pumps to remain the same as we continue to move into April 2021.

The prediction comes even though fuel prices in the country is increasing steadily since the start of the year, sparking fears that consumers may end the year paying an all time high rate per litre of diesel and petrol.

Currently, figures from the pumps indicate that prices of both diesel and petrol which were sold averagely at a price of GHS 4.7 per litre in December 2020 are now being sold at various major pumps at a price of GHS 5.45 per litre.

 

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