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General News of Wednesday, April 17, 2019
Source: clbadfmonline.com
2019-04-17
IES has predicted a slight increment in the prices of fuel
The Institute of Energy Security (IES) has predicted an increment in fuel prices in the second pricing window of April 2019.
"Considering the fact that average Brent crude price is gone by 3.98% with a corresponding 12.97% increment in the price of Gasoline and 1.42% for Gasoil on the International market, the IES foresees a slight increment in the price of fuel on the market , "IES Research Analyst, Mikdad Mohammed, said in a statement.
IES noted that the rise in the price will be "irrespective of the 2.5% appreciation of the Ghana Cedi against the dollar" under the period of review of the first pricing window of April 2019.
IES, however, noted that while some oil marketing companies (OMCs) might be more likely to take over the market share of the depressed margins.
On the local fuel market performance in the first pricing window in April, IES said some of the WTOs reviewed their prices, while still largely, prices remained unchanged.
Per the Institute 's Market Scan, Gasoline and Gasoline continue to be sold at GHS5.12 and GHS5.15 respectively. Star Oil, Pacific Oil, and Ben Oil sell the least-priced fuel on the market relative to other WTOs. Fuel from these outlets are 3% lower than the national average fuel price.
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