LPG

Ghana’s LPG Consumption Up 4% In 2023
19 Dec

Ghana’s LPG Consumption Up 4% In 2023

Wontumi10 CommentsBusiness
Despite economic challenges in 2022, Ghana's Liquefied Petroleum Gas (LPG) consumption grew by 4% in 2023, increasing from 305,076 metric tons to 317,465 metric tons, according to the Ghana Chamber of Bulk Oil Distributors’ 2023 Industry Report. The growth is attributed to a rebound in economic activities following a slowdown in 2022 when cedi depreciation and an 86% hike in LPG prices caused demand to decline. The report highlights the inverse relationship between LPG consumption and pricing, noting that the 2022 downturn may hinder the government’s goal of 50% national LPG penetration by 2030. LPG remains the primary cooking fuel…
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50% Of Ghanaians To Adopt LPG For Cooking By 2030 – Energy Minister
27 Nov

50% Of Ghanaians To Adopt LPG For Cooking By 2030 – Energy Minister

Wontumi10 CommentsBusiness,
The Ministry of Energy has assured the public that all challenges delaying the full implementation of the Cylinder Recirculation Model (CRM) are being addressed with input from key stakeholders. According to the sector minister, Herbert Krapa, the CRM is set to be effectively rolled out in 2025. The CRM is a distribution system where consumers exchange their empty LPG cylinders for filled ones at designated vending points. The empty cylinders are then transported to bottling plants, refilled, and made available for other consumers. Speaking during a media interview at the 2024 Women in Energy Outreach Programme, Mr. Krapa expressed optimism…
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We’ll Return To Atuabo Gas On August 26 – LPG Marketers Tells NPA
22 Aug

We’ll Return To Atuabo Gas On August 26 – LPG Marketers Tells NPA

Wontumi1Business,
The Liquified Petroleum Gas (LPG) Marketers Association has indicated that it will return to the Atuabo Gas Processing plant on August 26, 2024, to lift gas and supply to the public, once maintenance work at the plant is completed. This is coming after the LPG Marketers Association clashed with the National Petroleum Authority over its decision to delay return to Atuabo to lift gas. Vice Chairman of the LPG Marketers Association, Gabriel Kumi, who is unhappy with the NPA argued that the association did not mention that it will not return to Atuabo to lift gas. According to him, its…
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NPA Boss Urges LPG Marketing Companies To Embrace CRM
19 Jul

NPA Boss Urges LPG Marketing Companies To Embrace CRM

Wontumi1Business,
The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid has urged LPG marketing companies to re-asses their opposition to the cylinder recirculation model (CRM) and embrace the policy. He said CRM was being implemented in all the countries in the West African sub region, including Cote d’Ivoire, Togo, Burkina Faso and Senegal, and indicated that Ghana could not afford to continue to lag behind. Speaking at the opening of the 2024 Ghana International Petroleum Conference (GhIPCon) in Accra on Wednesday, the NPA Boss said he had noticed the aggressive advertisements run by LPG marketing companies (LPGMCs) promoting…
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LPG Consumption Declines By 4.47%
16 Apr

LPG Consumption Declines By 4.47%

Wontumi1News,
There is an overall decline of approximately 4.47% in Liquified Petroleum Gas (LPG) consumption from January 2020 to December 2023, compared to a growth of roughly 6.43% in the preceding four-year period, spanning January 2016 and December 2019, the Institute for Energy Security(IES) has revealed. Over the period, November 2020 recorded the highest monthly consumption of a little over 35 million kilogramme while April 2023 was found to record the lowest monthly consumption. “From 2020 to 2023, the total annual LPG consumption in Ghana fluctuated, with a peak in 2021 (345,478,919 kilogramme), and a decrease in 2022 (305,076,209 kilogramme); while…
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LPG Marketing Companies Association Kicks Against New $80 Per Metric Ton Tax By NPA
03 Apr

LPG Marketing Companies Association Kicks Against New $80 Per Metric Ton Tax By NPA

Wontumi1Business,
The Liquefied Petroleum Gas (LPG) Marketing Companies Association has strongly condemned the National Petroleum Authority’s (NPA) decision to impose a new tax on LPG, as announced in the recent pricing structure revision, effective April 1, 2024. According to the Association, the NPA’s imposition of an additional $80 per metric ton (MT) as part of the suppliers’ premiums, specifically allocated for Bottling Plant and Cylinder Investment Margins, is not justifiable. In a statement, it said, the decision to impose this new tax shows the authority’s disregard for the decline in consumption since 2021. “This heartless tax translates to an increase of…
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Prices Of Fuel To Remain Unchanged In Next Two Weeks – IES
30 Nov

Prices Of Fuel To Remain Unchanged In Next Two Weeks – IES

Wontumi1Business, , ,
Prices of petroleum products are likely to remain relatively stable in the next two weeks, the Institute for Energy Security has revealed. Though the prices of finished products of petrol and Liquefied Petroleum Gas [LPG} went down marginally on the international market during the last two weeks, the cedi depreciated marginally against the US dollar. This would prevent any reduction of fuel on the local market. “Following the price falls recorded for gasoline [petrol] (1.55%), and LPG (0.66%) on the international market, it is expected that the prices of the two commodities fall on the domestic fuel market. However, this…
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Fuel Prices Expected To Go Up By 9.0% From August 1, 2023 – COPEC
31 Jul

Fuel Prices Expected To Go Up By 9.0% From August 1, 2023 – COPEC

Wontumi1Business, , ,
Fuel prices are expected to go up from tomorrow August 1, 2023, the Chamber of Petroleum Consumers (COPEC) has disclosed. According to the Chamber, the prices of petrol and diesel are likely to increase averagely by about 9.0% over the current mean price of ¢11.90 per liter, whilst the price of Liquefied Petroleum Gas (LPG) goes up by about 20.0%. Petrol will therefore sell at ¢13.27 per liter, whilst diesel will go for ¢13.93 per liter. A 4.5 kilogramme LPG cylinder, is expected to sell at ¢170.91 within the window. All pump prices are expected to be within ±5% error…
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Price Of Diesel And LPG To Drop Marginally; Petrol To Remain Unchanged – IES
03 Jul

Price Of Diesel And LPG To Drop Marginally; Petrol To Remain Unchanged – IES

Wontumi1Business,
The price of diesel and Liquefied Petroleum Gas (LPG) is expected to fall marginally in the first pricing window of July. This is according to a recent analysis by the Institute for Energy Security (IES). The projection by the Institute for Energy Security, notes that the reduction can be attributed to the 2.6% fall in the price of gasoline and a 3.09% fall in the price of LPG. The analysis further noted that the depreciation of the Ghana cedi remains insignificant to the price of fuel at the various pumps in the first two weeks of July. However, the price…
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Petrol, Diesel Prices To Stay Same; LPG To Go Down 5% – IES
31 May

Petrol, Diesel Prices To Stay Same; LPG To Go Down 5% – IES

Wontumi1Business, , , ,
Prices of petrol and diesel are expected to stay the same in the first two weeks of June 2023. However, the price of Liquefied Petroleum Gas (LPG) is expected to decline by roughly 5% during the same period. According to the Institute for Energy Security (IES), this follows the Ghana cedi’s strong performance on the domestic forex market during the last two weeks, and the drop in the price of LPG on the international market, though international prices of the liquid products shot up. “The Institute for Energy Security’s (IES’) review of prices over the past two weeks as monitored…
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