Fuel prices to reduce further from next week
Joy Business is forecasting that petroleum prices will witness another significant reduction from next week. Based on our calculations, petrol would go down by almost 4.84 per cent per litre, while, diesel should be reduced by 5.37 per cent. LPG may go down by 4 .61 per cent per kilogram. Why the reduction? We understand the reduction will be influenced a fairly stable Ghana cedi as well as a favourable outlook and what some are describing at “over” supply of crude oil on the international market — which has an impact on the price of petroleum products. Some industry watchers are also saying, OPEC’s indecision and a heavy backwardation in the market will drive down prices further. The expected reduction possibly from next week is in line with the bi-weekly review in prices of petroleum products. A trend analysis of prices show that over the past three months the amount paid for fuel has witnessed some significant reduction. How the reduction could affect you Based Joy Business...
