Fuel prices have begun to drop at the pumps, with reductions ranging from 9 pesewas to 20 pesewas per litre in the second pricing window starting today.
This follows a trend that began in the first pricing window on August 1, 2024, after a period of continuous price hikes.
Currently, Goil is selling petrol at 14 Cedis 22 pesewas per litre, down from 14 Cedis 42 pesewas. Diesel has also seen a slight decrease, now selling at 14 Cedis 90 pesewas per litre, compared to the previous price of 14 Cedis 99 pesewas.
The Institute for Energy Security, IES projects that fuel prices will remain stable for the rest of August.
This forecast is attributed to the slowed depreciation of the Cedi and relatively calm international oil markets.
In the current pricing window, petrol prices have decreased by 2.83 percent, and diesel prices have dropped by 4.6 percent. However, the price of LPG has seen a slight increase of 2.66 percent.
