The Institute for Energy Policy (IES) in the Republic of Ghana is predicting that petrol price could go up by between five per cent and nine per cent in the first pricing window in June 2022.
Currently, a litre of petrol is sold between GHc9.55 and GHc9.85 per litre.
Per the prediction of IES, a litre of petrol could be sold for more than GHc10.00.
“On the back of the cedi’s depreciation and the 11.05 per cent jump in the price of gasoline on the international fuel market, gasoline in Ghana is set to sell above Gh¢10.00 per litre, which translates into Gh¢45 per gallon,” it said in a statement.
The energy think tank, however, noted that prices of gasoil (diesel) and LPG will somehow witness some form of stability.
“The 5.49 and 4.13 percentage drops in the prices of fossil and LPG respectively on the international market may not necessarily lead to a reduction at the local retail outlets as most marketers will look to maintain their prices to offset the losses from the depreciation of the cedi,” IES noted.
Meanwhile, the price of gasoil may cross the Gh¢12.00 per litre mark (Gh¢54.00 per gallon) across most OMCs despite the drop in price on the world market, owing to the decline in the value of the cedi against the greenback.
Source: https://energynewsafrica.com
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