The Institute of Energy Studies has projected that petrol will cost around GH15 per litre in the next pricing window in February.
According to the institute, this is due to the cedi’s 10% depreciation against the US dollar and the price of gasoline and gasoline oil increasing by 14% and 7.6%, respectively, on the global market.
This is despite the government’s introduction and receipt of approximately 40,000 metric tonnes of fuel under the gold-for-oil policy, which seeks to source cheaper fuel in exchange for gold.
This is part of the government’s efforts to address the high cost of gasoline at the pump, contributing to the country’s current inflation rate of around 50%.
Presently, the national average price per liter of gasoline increased to Gh13.58 from Gh12.54 during the second pricing window in January, and gasoil increased from Gh14.40 to Gh15.36.
