The Institute for Energy Security (IES) is projecting a marginal drop in the prices of fuel for the second pricing window in February.

IES projects the price of Gasoil to drop by about 4.26% from GH¢15.90 to about GH¢15.25 in the second week of the pricing window.

The price of liquefied petroleum gas is also expected to be pegged at GH¢13.51 per kilogram across the various LPG stations across the country during the pricing window under review.

The changes in the price of gasoil according to the monitoring conducted by IES are largely a result of the directives by the National Petroleum Authority for a price adjustment to reflect the government’s Gold for Oil Policy.

Ghana has recently been hit with high oil prices which triggered the government to come up with the Gold for Oil Policy aimed at ensuring regular and affordable supply of oil.

You can read the full statement here