The Institute of Energy Security has projected a marginal fall in the price of diesel and Liquefied Petroleum Gas in the first pricing window of July.

According to the IES, the slight reduction is due to the fall in the prices of gasoline and LPG.

Petrol prices will however remain unchanged.

Gasoline and LPG have seen a 2.6% and 3.09% fall in their price in the past month but due to the depreciation of the cedi, the price fall does not contribute significantly to a change at the pump.

“The various changes in the price of the commodities on the international fuel market are expected to affect local market prices in Ghana. For the first two weeks in July, following a price decrease of 2.64%, 3.09% for Gasoil and LPG,” the IES projects.

On the international front, the IES’ monitoring of petroleum prices for the second pricing window of June 2023 as published by the Global Standard & Poor (S&P) Platt platform showed that the closing prices for Gasoline, Gasoil, and LPG are as follows; $811.80, $709.84 and 306.25 per metric tonne respectively.

This resulted in a marginal price increment of 0.95% for Gasoline and a decrease of 2.64%, and 3.09% for Gasoil and LPG respectively in the second price window of June 2023.

Crude oil prices are still far below the projections made by analysts as of the end of June 2023.

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