Cedi depreciation: fuel prices to hit beyond 5 cedis per litre-IES

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The Institute for Energy Security (IES) is predicting that the current freefall of the local currency will shoot the prices of fuel beyond 5 cedis per litre, explaining that world oil prices will be the catalyst on whose back the fuel hikes will come.

A statement issued by the energy think-tank and signed by Mikdad Mohammed, research analyst at the institute, said the first pricing window for September saw the prices of gasoline and and gas oil remain unchanged as the institute had projected in an earlier review.

The statement said current national average prices of gasoline and gasoil at the pump stands at 4 cedis 90 pesewas and 4 cedis 93 pesewas respectively.

It said the IES market-scan shows Fraga, Benab, Frimps Oil, Zen Petroleum, lucky Oil and Alinco Oil among others sell the lowest priced fuel on the market, relative to other Oil Marketing Companies.

Below is the statement issued by the Think-tank


Source: BestNewsGH.com

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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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