The Institute of Energy Security (IES) is predicting a further increase in fuel prices in the first pricing window of March due to the constant depreciation of the cedi. The IES says the depreciation of the cedi is already threatening the stability of fuel prices. The Institute also believes the cedi played a part in … Read more
The Institute for Energy Security (IES) has said the relative stability for the price of Brent Crude, and global prices for gasoline and gasoil points to the stability of local fuel prices but “the only variable that threatens the stability of prices on the local market is the steep decline in the value of the … Read more
The Chamber of Petroleum Consumers(COPEC) has discredited reports that fuel prices will go up this week. The Institute of Energy Security (IES) predicted a 3 percent increase in fuel prices for the 2nd pricing window. Checks by Citi business News also indicates that fuel prices at Total and Shell fuel pumps have gone up as … Read more
The Chamber of Petroleum Consumers Ghana (COPECGH) has noted that prices of petroleum products in the country will remain fairly stable. A statement signed by Duncan Amoah, Executive Secretary, COPECGH said: “The start of the second pricing window for the month of February, which begun on the 16th of February has been met with mixed … Read more
The Institute of Energy Security (IES) has predicted a percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the next pricing window will go up. “If you look at the crude oil price at the world market, the cedi dollar ratio, … Read more
The Institute for Energy Security (IES) has indicated fuel prices could go up by 3% if government does not take any action to address recent developments in the energy sector. In a statement issued on Thursday, February 16, the Institute said: “Following the substantial loss of the Cedi to the dollar, the up to 1.70% … Read more
The Institute for Energy Security (IES) has indicated that if government does not take any action to address recent developments in the energy sector, fuel prices could go up by three per cent at the pumps within the second pricing window. A press release from IES on Thursday, February 16 indicated: “Following the substantial loss … Read more
All things being equal, fuel prices will not travel beyond 15 percent increase in 2017, some industry analysts anticipate. This is largely due to a forecast that the price of oil will end the year at US$57.0 per barrel on the average compared to the February 9 front-month price of US$55.6 per barrel, according to … Read more
Inflation has reached its highest rate for two-and-a-half years, mainly as a result of the rising price of fuel. Annual inflation as measured by the Consumer Prices Index (CPI) reached 1.8% last month, the Office for National Statistics (ONS) said, up from a rate of 1.6% in December. It is the fourth consecutive month that … Read more
Prices of fuel must be cut by between 1 and 4% in the first pricing window for February, the Chamber of Petroleum Consumers Ghana has said. In a statement, the Chamber said prices of fuel products within the country have seen some cumulative 14 – 17% increases over the past three pricing windows. It said … Read more
The Chamber of Petroleum Consumers is calling on the various Bulk Distribution Companies (BDCs) and Oil Marketing Companies (OMCS) to reduce fuel prices between 1-4% to ease the current pressures on the pockets of Ghanaian petroleum consumers. CPC expects that fairness under price deregulation which dictates prices should reflect current trends and market dynamics will … Read more
Oil Marketing Companies (OMCs) in the country have justified the continuous increases in prices of petroleum products this month. The deregulation of the downstream petroleum sector allows OMCs to review prices of petroleum products every two weeks. However since the beginning of the year, prices are being reviewed every week. Prices of petroleum products increased … Read more
Oil Marketing Companies (OMCs) in the country have justified the continuous increases in prices of petroleum products this month. The deregulation of the downstream petroleum sector allows OMCs to review prices of petroleum products every two weeks. However since the beginning of the year, prices are being reviewed every week. Prices of petroleum products increased … Read more
The Chamber of Petroleum Consumers (COPEC) has blamed the continuous fall of the cedi against the dollar for the recent price hikes of fuel at the pumps. According to COPEC, the situation has resulted in speculations leading to an increase of about 4 to 10 percent in fuel prices. Fuel prices at the pumps saw … Read more
The New Patriotic Party (NPP) government must reduce taxes and other levies on petroleum in order to cushion consumers from the rising cost of fuel, the Chamber of Petroleum Consumers-Ghana (COPEC-GH) has admonished. The Chamber’s call comes in the wake of fuel price increments by some Oil Marketing Companies (OMCs) of between two and 10 … Read more
The Chamber of Petroleum Consumers (COPEC) has blamed the continuous fall of the cedi against the dollar for the recent price hikes of fuel at the pumps. According to COPEC, the situation has resulted in speculations leading to an increase of about 4 to 10 percent in fuel prices. Fuel prices at the pumps saw … Read more
Oil and gas analyst, Kwame Jantuah has advised the NPP government to increase the country’s capacity to refine more crude at a cheaper cost if it is to reduce the prices of fuel. His comments follow the assurance by the Finance Minister Nominee, Ken Ofori Atta to consumers that there will be no immediate hikes … Read more
Oil and gas analyst, Kwame Jantuah has advised the NPP government to increase the country’s capacity to refine more crude at a cheaper cost if it is to reduce the prices of fuel. His comments follow the assurance by the Finance Minister Nominee, Ken Ofori Atta to consumers that there will be no immediate hikes … Read more
Consumers are to experience an immediate halt in the increase of utility and fuel prices in the short to medium term in what will be one of the first decisions embarked on by Minister of Finance nominee Ken Ofori Atta. Prices of some petroleum products last week went up by 11 percent for the first … Read more
Consumers are to experience an immediate halt in the increase of utility and fuel prices in the short to medium term in what will be one of the first decisions embarked on by Minister of Finance nominee Ken Ofori Atta. Prices of some petroleum products last week went up by 11 percent for the first … Read more