A private energy analyst Benjamin Nsiah is projecting a marginal drop in the prices of fuel products effective January 1, 2023.
The rise of the American dollar affected fuel products in Ghana in the last quarter of 2022. Things began to stabilize when the Ghanaian cedi found its strength from an unknown source.
Benjamin Nsiah has predicted that petrol would be sold at GH¢9.30 per litre. Diesel is also expected to be sold between GH¢12.80 and GH¢15 per litre at various pumps.
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According to him, a reduction of 15 per cent and 8 per cent respectively in petrol and diesel prices. This will directly affect the prices of goods and services in the country.
The former head of research at the Chamber of Petroleum Consumers – Ghana (COPEC), noted that a decrease in the global prices of oil products and the recent stabilization of the cedi is responsible for the expected marginal drop.
With respect to petrol, the expected maximum price for this same pricing window is likely to be GH¢11.88 per litre and the minimum price is expected to be GH¢9.30 per litre and the smaller OMCs such as Zen, Goodness, and Star Oil are also expected to sell petrol for GH¢9 within the window. He added
Mr Benjamin made these revelations when he spoke to Citi news. Fuel price increased in the November 1 pricing window when a litre of diesel was sold for GH¢23.49 per litre. Petrol and kerosene were sold at GH¢17.99 per litre and GH¢14.70 per litre respectively.
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