• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Fuel prices likely to slow down in first-pricing window of May – IES says

1 year ago
in Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
69
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Fuel prices likely to slow down in first-pricing window of May – IES says

The Institute for Energy Security (IES) in its latest report on the downstream sector has noted that fuel prices are likely to slow down in the first-pricing window of the month of May.

According to the IES, this is largely the result of slowed price increments recorded by refined products on the international market.

“In the coming days of May 2024, consumers are likely to see price slow down for all petroleum products after several weeks of hikes. This is coming largely as a result of slowed price increments recorded by refined products on the international market,” quipped the IES.

According to the IES, per recent price movements recorded on the international market by the refined petroleum products, Gasoil and Liquified Petroleum Gas (LPG) recorded a fall of about 5.87% and 6.56% respectively, however, Gasoline has seen its price increase marginally by about 0.49%.

Further asserting that, the Cedi’s performance continues to fall against the U.S. Dollar with its recent fall estimated at about 1.06%.

“IES Economic Desk monitoring of Ghana Cedi performance in the last 15 days of April on the foreign exchange market (Forex) shows the local currency is still underperforming against the U.S. Dollar. The Ghana Cedi previously traded at GHC13.38 to its counterpart but closed trade at GHC13.52 representing a loss of 1.06% depreciation of its value,” it remarked.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

The IES notes that, on a daily rolling basis tracking of price movements on the local fuel market, refined product prices have jumped since the opening of the second pricing-window for April 2024. Tracking of Oil Marketing Companies (OMCs) price data show liquid fuels increased by a combined average of about 0.30%.

On Liquified Petroleum Gas (LPG), the space has seen intense debate between industry players and the regulator (National Petroleum Authority) attempting an imposition of an $80 per metric ton tax on LPG.

“The Institute for Energy Security (IES) computation of national average price for the 3 refined petroleum products over the past two weeks indicate that Gasoline sells at GHC13.81, Gasoil at GHC14.25 per litre respectively, and Liquefied Petroleum Gas (LPG) sells at GHC13.65 per kilogram (kg).

“The IES Marketscan positions Star Oil, Zen Petroleum, and Benab Oil as OMCs selling at least priced over the last two weeks,” the IES posited.

Tags: fuel pricesFuel prices likely to slow down in first-pricing window of May - IES saysIES
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.