IES drops latest report on petrol and diesel prices; predicts increase in LPG price

IES drops latest report on petrol and diesel prices; predicts increase in LPG price

- The Institute of Energy Securities (IES) has announced a possible increment in the price of Liquified Petroleum Gas (LPG) on the local market

- It however indicated that it is possible the prices of petroleum products and diesel would remain the same

- The IES stated that the possible increments could be linked to a number of variables on the international market

The Institute of Energy Securities (IES) has predicted a possible increase in the price of Liquefied Petroleum Gas (LPG) on the local market. understands that it has also indicated that the prices of petroleum and diesel may remain stable.

In addition, the Institute said it expects the prices of petrol and diesel at the pumps to remain stable.

READ ALSO: Akufo-Addo orders reduction of passport fees and charges

The institute noted, in its first pricing window of September 2019, that the increase in LPG price could be linked to variables in the international market.

It added that though prices of gasoline and gasoil fell by 4.2% and 1.17% respectively, LPG experienced an increase of 14.5% in addition to a 0.9% depreciation of the local currency.

It went to identify Benab Oil, Pacific Oil, Frimps Oil and Star Oil as the oil marketing companies that sold the least-priced fuel relative to their competitors.

In other news, the vice president, Dr. Mahamudu Bawumia, has announced government’s plans to permanently solve flooding in northern Ghana.

He revealed that the government will soon begin the construction of the Pwalugu dam, which would be the single largest investment in northern Ghana by any administration.

According to him, the government intends to end the flooding caused by the Bagre dam in Burkina Faso.

The plan, noted, would also help with irrigation and hydro power for the people of northern Ghana.

READ ALSO: Lovely photos flood social media as Ghana opens passport office in Tokyo

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