The Institute of Energy Security (IES), says that the price of fuel at the various pumps for the first pricing window in April 2021 is expected to remain unchanged.
IES in a press statement indicated that the 2.05 percent decrease in the price of the International Benchmark Brent crude, the 2.84 percent decrease in price of Gas oil, the 1.89 percent decrease in Gasoline and the relative stability of the local currency against the US Dollar during the period under review, can be attributed to their projection of unchanged prices at the pumps.
The prediction comes even as fuel prices in the country have consistently seen a steady increase since the beginning of the year, sparking fears that consumers may end the year paying an all-time high rate per litre of petrol and diesel.
Current figures from the pumps show that prices of petrol and diesel which were both selling at an average price of GHS 4.7 per litre in December 2020, are now being sold at about GHS 5.45 at the major pumps.
