cedi depriciation

Global Oil Prices Drop, But Cedi Depreciation Keeps Fuel Prices High
17 Feb

Global Oil Prices Drop, But Cedi Depreciation Keeps Fuel Prices High

CUD Wontumi0 CommentsBusiness,
Consumers are facing mixed outcomes at the pumps as global fuel prices decline, but the depreciation of the local currency could undermine potential relief. Despite a steady drop in Brent crude prices and refined petroleum product costs on the international market, the Ghanaian Cedi’s 2.18% fall against the U.S. Dollar is keeping fuel prices volatile. According to a press release by the Institute for Energy Security (IES), the first pricing window of February 2025 saw an increase in fuel prices in Ghana for the third time this year. Gasoil rose by GH₵0.45 per litre, while gasoline increased by GH₵0.24 per…
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Cedi Depreciation May Thwart Expected Fall In Prices Of Petrol And LPG – IES
15 Sep

Cedi Depreciation May Thwart Expected Fall In Prices Of Petrol And LPG – IES

wontumionlineBusiness,
The depreciation of the cedi may thwart the expected fall I prices of petrol and Liquefied Petroleum Gas (LPG). According to the Institute for Energy Security (IES), even though the prices of petrol and LPG also dipped on the international market, the 3.58% depreciation of the cedi may thwart any expected fall in the price of the two product at the local pumps. It said consumers may rather be forced to buy petrol and LPG at a higher value over the current prices for the rest of September 2022, on account of the cedi fall against the greenback. “With the…
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