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Fuel price to remain same in April – IES

The price of fuel will remain stable for the second pricing window, the Institute for Energy Security (IES) has said.

It said in its latest notice signed by Research Analyst Fritz Moses that the price of fuel on the local market remained largely stable within the window under review.

IES said the price of petroleum products within the second pricing window of March 2021 saw the Oil Marketing Companies (OMCs) maintain prices at the pump throughout the period.

The current national average price of fuel per litre at the pump is pegged at GHS5.16 for both products.

For this pricing window, Zen Petroleum, Benab Oil, Petrosol and Frimps Oil sold the least-priced fuel on the local market, according to IES’ market scan.

It said for the window under assessment, the price of international benchmark Brent crude averaged $65.22 per barrel mark representing a 2.19% decrease from the previous window’s average price of $66.65 per barrel mark.

The Brent crude price decrease is coming on the back of the third wave of coronavirus infections, which has forced several European states like France, Poland, Italy, Germany and others to introduce new restrictions on movements in subsequent weeks.

The restrictions are expected to reduce crude oil demand.

 

Source: Ghana|Myxyzonline.com

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