Fuel prices go down by 2-4% effective Feb 1
- Fuel prices down marginally by 2-4%
- The NPA and IES have attributed the reduction in petroleum prices to reduction in world market price and the cedi's apprciatin against the US dollar
- Our Manifesto: This is what YEN.com.gh believes in
Fuel prices are expected to go down marginally between 2 and 4%, sources at the National Petroleum Authority have revealed.
The new prices are to take effect, effective Saturday, February 1, 2020.
The development is as a result of a significant reduction in the world price of Brent Crude.
READ ALSO: Airbus paid bribes to top Ghanaian officials between 2009 and 2015 - British court documents reveal
Also the local currency which had been depreciating for some time now has also appreciated marginally against the US dollar.
Meanwhile, the Institute for Energy Security (IES) has predicted a 4.66% fall in the prices of fuel at the pump.
According to a statement from the IES, “from the 4.66% decline in prices of Brent Crude, coupled with the 8.00% and 5.69% considerable reduction in the prices of Gasoil and Gasoline respectively, on the international market; the Institute for Energy Security (IES) foresees prices of fuel on the local market dropping by roughly 2.5%”.
READ ALSO: 5 Kofi B songs Ghanaians will always remember him for
YEN.com.gh earlier reported that Ghanaian highlife genius Kofi B is reportedly dead.
Per information chanced upon by YEN.com.gh, the award-winning singer after he performed at a concert in Cape Coast on Saturday, February 1, 2020.
He is believed to have died from a heart attack.
Faces of Ghana: Ghana’s 1st Female Police Bemoans High Rate of Police Indiscipline | #Yencomgh
READ ALSO: Mohamed Salah flaunts GHC5.8million worth garage to celebrate brace against Southampton
Have national and human interest issues to discuss? Know someone who is extremely talented and needs recognition? Your stories and photos are always welcome. Get interactive via our Facebook page.
Source: YEN.com.gh
