U.K ANGOLA GHANA
NEWS
February 2, 2018
Fuel prices to rise by 2% in February – IES
Prices of fuel may go up by 2 percent in the first pricing window in February, between February 2, 2018 and February 15, 2018.

However, a swift intervention from government through the National Petroleum Authority (NPA)’s price stabilization mechanism could keep prices stable.

The Institute of Energy Security (IES) which revealed this, further attributes the development to the constant rise in crude oil prices which is currently selling at 69 dollars per barrel on the international market, among other factors.

“Crude oil prices have gone up on the international market and it is still rising; as we speak the cost of a barrel of oil is averaging around 69 dollars from a previous average of 67.7 dollars. That’s a rise of about 2 percent. The finished product that’s gasoline and gas oil prices have also gone up on the international market,” Principal Research Analyst at the IES, Richmond Rockson told Citi Business News in an interview.

Consumers have had to pay more at the pumps last month (January 2018), due to rise in oil prices and the cedi’s marginal depreciation.

Currently, a litre each of petrol and diesel is selling at 4 cedis 62 pesewas at some major fuel stations.
Source: citifmonline

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