Institute of energy security

The Institute of Energy Security has projected that fuel prices may remain unchanged in the next pricing window despite the reduction in crude prices on the global market. This, according to the Institute, is due to the instability of the cedi against the dollar in recent times. Data from the IES Economic Desk on the domestic foreign exchange (forex) market over the last two weeks revealed that the cedi closed trading at ¢12.01 to the US dollar, from ¢11.55 at the start of the window. This led to a loss of about 3.98% in value. “Prices of all petroleum products…

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…