fuel

‘Arrest’ Dollar To Bring Fuel Prices Under Control — COPEC To BoG
18 Oct

‘Arrest’ Dollar To Bring Fuel Prices Under Control — COPEC To BoG

wontumionlineBusiness, , ,
The Chamber of Petroleum Consumers Ghana (COPEC) has asked the Bank of Ghana and the Economic Management Team to take immediate steps to halt the fast decline of the Cedi against the US Dollar to stabilise fuel prices. The Chamber attributed the continuous hikes in fuel prices to the “free fall” of the Cedi and cautioned that fuel prices could hit “uncontrollable” levels in future if the local currency was not stabilised. In an interview with the Ghana News Agency, Mr Duncan Amoah, Executive Secretary of COPEC, said fuel prices could hit GHS20 per litre by the end of the…
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Ghana Not Benefiting From Global Fuel Price Drop – IES
22 Sep

Ghana Not Benefiting From Global Fuel Price Drop – IES

wontumionlineBusiness, ,
The Institute of Energy Security (IES) is predicting an insignificant drop in fuel prices in the Ghanaian market despite the drop in global fuel prices. According to the IES this prediction will be so if the cedi remains weak against major trading currencies. Crude Oil price has fallen by 4 per cent in recent weeks but unfortunately, the cedi continues to struggle on the forex market as it closed trading close to 10 Cedis per Dollar. Executive Director for the Institute of Energy Security, Nana Amoasi III, said although fuel prices may reduce, the instability of the Cedi is set…
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No Looming Fuel Shortage – BOST Assures Public
22 Sep

No Looming Fuel Shortage – BOST Assures Public

wontumionlineBusiness,
The Bulk Oil Storage and Transportation Limited (BOST) has assured the public that there is no looming fuel shortage as speculated by some media publications. A release issued by the company said estimates from the National Petroleum Authority (NPA) indicated that the total volumes of fuel available in-country as of September 20, 2022 was equivalent to 43 days of national demand and not 13 days as being bandied around. It said out of the total quantity, BOST held what could last for 13 days while the Bulk Oil Distributing Companies (BDCs), together, are holding close to 30 days of national…
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Fuel Could Hit GH¢17 Per Liter If Cedi Depreciation Continues – IES
19 Sep

Fuel Could Hit GH¢17 Per Liter If Cedi Depreciation Continues – IES

wontumionlineBusiness
Executive Director of the Institute of Energy Security, Nana Amoasi III, has stated that Ghana may not benefit from the reduction in global fuel prices due to the depreciation. According to him, Ghana will continue to gain little or nothing from the reduction in fuel prices until the cedi begins to appreciate. “Prices on the global market have gone down, but our consumers may not benefit from that because our local currency, the cedi, which is the key variable in the determination of local market prices keeps depreciating against the imparting currency being the dollar,” he is quoted by citinewsroom.com.…
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Prices At The Pumps To Fall Marginally – IES
15 Sep

Prices At The Pumps To Fall Marginally – IES

wontumionlineBusiness,
The Institute of Energy Security (IES) is projecting a slight reduction in fuel prices in the coming days. This is despite an almost 11 per cent drop in prices on the world market. The about 3.6 per cent depreciation of the cedi against the dollar has however thwarted any significant drop in prices at the pumps. The price of Petrol is currently at GHS11.55 a litre while Diesel is at Ghc14.50 per litre. These are despite the commodity starting the year at about GHS6.5 per litre. Similarly, the dollar is currently trading at over GHS10 when it sold for about…
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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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GPRTU Increases Transport Fares By 30% Effective September 21
14 Sep

GPRTU Increases Transport Fares By 30% Effective September 21

wontumionlineNews, ,
Public transport commuters will from Wednesday, September 21, pay at least 30 more following an upward adjustment in fares. This was announced in a communique from the Ghana Private Road Transport Union (GPRTU) today, Wednesday, September 14. According to the Union, the decision follows a successful consultation with its mother body. “In consultation with our mother body the GPRTU OF TUC, we wish to announce to the general public that there will be a 30% increment on fares starting Tuesday 21st September 2022.” It cited the rise in the cost of fuel and spare parts as the basis for the…
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