Petrol, diesel prices to go down by 10%

Petrol, diesel prices to go down by 10% – IES

Prices of petrol and diesel are expected to go down between 10% and 8% from Thursday, December 1, 2022, the Institute for Energy Security has projected.

The price of Liquefied Petroleum Gas (LPG), however, is expected to remain stable on account of the cedi’s depreciation.

This will be the second consecutive period that prices of petrol and diesel will be going down.

Prices of the various finished products will be affected by the 13.45% fall in the price of gasoline [petrol], the 11.63% fall in the price of gasoil [diesel], and the 1.88% fall in the price of LPG.

However, the 3.09% depreciation of the cedi against the US dollar is expected to erode portions of the gains from the reductions in international fuel prices. The price of LPG is however expected to remain stable on account of the cedi’s depreciation”.

World Oil Market

On the international market, Brent crude saw a 6.31% decrease in price over the previous window’s average price of $95.11 per barrel to the present average price of $89.11 per barrel.

As fresh worries surrounding China roiled global markets on Monday [November 28, 2022], oil prices fell to their lowest levels in 11 months.

Presently, crude oil is hovering around $86 per barrel.

Diesel prices went down significantly

During the last price review, petrol sold at ¢16.31 per litre, from 17.62, representing a 7.43% reduction over the period.

Diesel also fell by roughly 13.91% to ¢19.86, from ¢23.07.

Comments

Anglogold Ashanti Obuasi Mine tops 2024 Sustainability & Social Investment Awards

AngloGold Ashanti Obuasi Mine has confirmed its status as sustainability champions by sweeping nine awards, the most won by a company at the 2024 Sustainability & Social Investment Awards (SSI) held at Movenpick Ambassador Hotel in Accra. The feat comes on the heels of a dominant performance in last year's event where AngloGold Ashanti Obuasi Mine swept seven awards. The SSI Awards organised by Ianmatsun Global Services recognizes the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, social, and governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life. This year's event, which was the 8th edition, was under the theme "Climate Action Now: Accelerating Decarbonization and Building Resilience". The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment (project), SSI Company of the Year ( Environment), Best Co

Zoomlion Advocates Community & Gender inclusive waste management for Climate Action at COP 29

Africa's waste management giant, Zoomlion Ghana Limited has advocated for an integrated approach to waste management that considers the interest of community members, women and vulnerable groups. James Deku, a Communications Officer of Zoomlion Ghana Limited made this call at the 29th session of the Conference Of Parties (COP 29) of the United Nations Framework Convention for Climate Change (UNFCCC) at Azerbaijan, Baku whiles speaking on the topic "Community-Driven and Gender Inclusive approaches to waste management for Climate Action ". He said the waste sector is a major contributor of methane emissions which is a potent greenhouse gas causing climate change hence the need to manage waste in a manner that considers the interest of all stakeholders. Zoomlion's waste management model is designed and operated in a manner that considers the interest of all stakeholders. Through a Public Private Partnership (PPP) model, local authorities engage community members in clea

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican

Kofi Ahovi

Search This Blog