Cost Of Fuel Is Expected To Be Reduced This Month

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Energy think tank, Institute of Energy Security (IES) has predicted that the cost of fuel will go down in November.

IES, in a statement, said this is due to the drop in prices of International Benchmark- Brent Crude, the 2.62% decrease in prices of Gasoil, as well as the 0.17% appreciation of the local currency.

“The Institute for Energy Security (IES) projects prices of fuel on the domestic market going down as we enter the second half of November 2020,” the energy think tank said in a statement.

For the last pricing window, “Zen Petroleum, Benab Oil, Goodness Energy, SO Energy and Alinco Oil sold the least-priced Gasoline and Gasoil on the local market,” the statement said.

“Prices of fuel on the local market remained stable within the window under review. Prices of petroleum products within the first pricing-window of November 2020 saw majority of Oil Marketing Companies (OMCs) maintaining prices of Gasoline and Gasoil. The current national average price of fuel per litre at the pump is pegged at GHS4.60,” IES added.


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