The Institute for Energy Security (IES) predicts a drop of around 5% in the price of liquefied petroleum gas (LPG) during the first two weeks of the month of June 2023.
According to a forecast by the Institute for Energy Security, the price of liquefied petroleum gas (LPG) would drop by around 5% in the first two weeks of June 2023.
The Institute for Energy Security has also forecast that petrol and diesel prices will stay stable during this time.
According to the Institute for Energy Security, this is because the Ghana cedi has been performing well on the domestic foreign exchange market over the past two weeks and because LPG prices have fallen on the international market, despite a sharp increase in the cost of liquid goods globally.
Over the same two-week trading period on the local FX market, the Ghana cedi appreciated by 5.42% in relation to the US dollar, the report stated.
Meanwhile, regular gasoline and diesel cost an average of GH11.90 per litre and GH13 per kilogramme across the country as of late. Brent crude oil has been trading below $80 per barrel on the international market for the past two weeks. Over the timeframe, a barrel of oil was trading roughly for $75.90.
The general public was recently reminded that they should securely transport full LPG cylinders by securing them in the trunk of their vehicles. This is done so that the full cylinders don’t get over-pressured, damaging the pressure reliever and maybe causing an explosion as the LPG rushes out.
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