The Institute of Energy Security (IES), has cautioned Ghanaians to brace themselves for further hikes in petroleum prices this week due to impending shortage of the product and other shocks affecting the international market.
According to IES, this is attributed to the 7.64 % rise in Gasoline price, 1.90% rise in Gasoil price, and the 6.05 % rise in the price of LPG on the international market, plus the growing pockets of fuel shortages across the country.
Speaking on Behind the News Energy Analyst at the IES, Fritz Moses said although the Cedi appreciated by 0.28 % against the dollar, prices of Gasoline, Gasoil and LPG may still see an upward adjustment, barring any intervention from the government.
