Fuel prices go down by 2-4% effective Feb 1

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.

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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.

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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%”.

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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.

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Source: Yen

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