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Fuel prices to remain stable in September

  • POSTED ON: September 5, 2017
  • SOURCE: Citifmonline
  • CATEGORY:

Prices of fuel are likely to remain stable in the first pricing window of September this year.

This is according to the Institute of Energy Security (IES).

The IES attributes this to the relative stable prices of finished products on the international market as well as the suspension of the recently implemented fuel standards.

Principal Research Analyst at the IES, Richmond Rockson who spoke to Citi Business News said prices will continue to remain unchanged.

“Taking into consideration the marginal fall in the price of crude oil, the relatively stable prices for finished products on the international market and the suspension of the recently implemented fuel standards; the Institute for Energy Security (IES) foresees local fuel prices remaining unchanged in the first Pricing-window for the month of September 2017.”

He added, “Our inventory has gone up and we have three hundred and four major liters which can take us for about four weeks and the plus bench mark, the prices went up marginally for petrol but for diesel it decreased all things being equal we expect that prices will remain stable at the pumps.”

The IES earlier predicted a 5 percent increase in the second pricing window in August which came to pass.

Mr. Rockson however said that the continuous rise in the dollar against the Ghana cedi may produce some shocks at the pumps.

“Prices will remain stable at the pumps unless of course the rate at which the dollar is depreciating affects prices which will cause some shocks but all things being equal we expect prices to remain stable in the next pricing window”.

 

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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