Ghana’s leading Indigenous Oil Marketing Company, GOIL PLC, has announced a significant reduction in the prices of both Super XP (Ron 91) and Diesel XP for the second pricing window beginning September 16, 2024.
A litre of Super XP (Ron 91) has been reduced to Gh¢12.99 from Gh¢14.16 per litre, representing Gh¢1.17 (8.3%), while Diesel XP has been reduced to Gh¢14.49 from Gh¢14.70 per litre, representing 21 pesewas effective Monday, September 16, 2024.
Since the second pricing window in August, the cost of refined petroleum products has been declining, with petrol falling to US$696.38 per metric tonne while Diesel declined to about US$669.44 per metric tonne, according to estimates by the National Petroleum Authority.
Forex (exchange rate), which is also one key determinant of cost ex-pump price of fuel, has also seen some stabilisation, with a dollar being exchanged for Gh¢15.73
Crude oil prices on the international market have also been declining and hovering around US$70 per barrel.
As of Monday morning, September 16, 2024, the benchmark crude Brent is trading at US$71.87 per barrel, while West Texas Intermediate (WTI) is trading at US$69.03 per barrel.
Source: https://energynewsafrica.com