In a welcome relief for motorists, the Institute for Energy Security (IES) has predicted a slight decrease in petrol and diesel prices in the second pricing window of February 2025. This forecast is based on a decline in global fuel prices, despite the cedi’s depreciation against the dollar.
According to data from Standard & Poor’s (S&P) Platts, petrol and diesel prices have dropped on the international market, paving the way for a reduction in local fuel prices. This decrease is expected to bring some respite to consumers, who saw fuel prices increase in the first half of February.
As of the first pricing window, petrol and diesel were selling at GH¢15.61 and GH¢15.65 per litre, respectively, while Liquefied Petroleum Gas (LPG) was priced at GH¢18.79 per kilogramme. Although the IES expects LPG prices to remain unchanged, the predicted decrease in petrol and diesel prices is expected to take effect from February 16, 2025.
This development is a positive sign for Ghanaian consumers, who have been grappling with rising fuel costs. As the second pricing window commences, motorists can look forward to some relief at the pump.
Ruth Abla ADJORLOLO
