Do You Know The Fuel Prices Today And Do You Know Fuel Prices Are Expected To Go Down Effective Today, January 17?

Diesel and Liquefied Petroleum Gas (LPG) prices are down for the second straight month in January, so gas station customers can breathe a sigh of relief.

The Chamber of Petroleum Consumers (COPEC) has announced that this announcement will be effective as of Wednesday, January 17, 2024.

Diesel and LPG prices are expected to fall by COPEC as a result of a worldwide decrease in finished product costs, although the precise adjustments have not been decided upon yet. Even if the Ghanaian cedi has slightly depreciated in the past few weeks, this good trend persists.

Most analysts predict that petrol prices will stay about the same, maybe going up by a small amount of about 1%.

Duncan Amoah, executive secretary of COPEC, elucidates this dynamic by referring to recent tendencies in global markets.

“Diesel prices dipped by roughly 2.8% per metric ton on the global market, while petrol experienced a slight increase of 3.6%. The cedi has remained relatively stable overall, although we’ve seen a 0.47-point dip in exchange rates,” Amoah said.

He added, “Overall, what our expectation is that prices of petrol are likely to remain stable with a 1 percent upward adjustment.

“Diesel is likely to see some reduction while LGP is also likely to see some reduction effective Wednesday which is the second window for January.”

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At the time of this publication, cedirates.com had published the prices of fuel per litre at the pumps for 17th January 2024.

Petrol prices per litter quoted by Banab, Zen, JP, Viggo Energy ranged between GHS11.20 and 11.67 whiles those of Puma, Allied, Petrosol and StarOil were pegged between GHS11.67 and GHS11.69. For Goil, Shell and TotalEnergies the price of a litre of petrol was GHS12.39.