• 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 to remain stable – IES

4 years ago
in Energy, highlights, Home, home-news, latest News
2 min read
0 0
0
81
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

REVIEW OF MARCH SECOND PRICING-WINDOW

Local Fuel Market Performance 

Price of fuel on the local market remained largely stable within the window under review. Price of petroleum products within the second Pricing-window of March 2021 saw the Oil Marketing Companies (OMCs) maintain prices at the pump throughout the period. The current national average price of fuel per litre at the pump is pegged at Gh¢5.16 for both products.   

For this Pricing-window, Zen Petroleum, Benab Oil, Petrosol and Frimps Oil sold the least-priced fuel on the local market according to IES Market-Scan.

World Oil Market

For the window under assessment, international benchmark, Brent crude price averaged about $65.22 per barrel mark representing a 2.19% decrease from the previous window’s average price of $66.65 per barrel mark.

Source: IES Construct 2021, with data from oilprice.com

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

The Brent crude price decrease is coming on the back of the third wave of coronavirus infections which has forced several European States like France, Poland, Italy, Germany and others to introduce new restrictions on movements in subsequent weeks. The restrictions are expected to reduce crude oil demand. 

On 24th March however, price of Brent Crude went up by 5.5% due to the unfortunate mishap in the Suez Canal. The canal is a major transportation route for global trade that connects Asia to the Middle East. The mishap blocked the delivery of about 13 million barrels of crude according to Vortexa.

The situation is expected to cause a short-term delay in Crude Oil imports in Europe, Asia and other parts of the world. The Prices were back again to the downward trajectory on 25th March trading downwards by 3.85% in response to the restrictions in Europe. 

In preparation for the next OPEC+ meeting, traders still remain on edge for the resolutions from the meeting scheduled for 1st April 2021. 

Gasoline and Gasoil prices as monitored on Standard and Poor’s global Platts platform show that price of the international commodities Gasoline and Gasoil experienced marginal decreases within the period. Gasoline saw a decrease in price by 2.07% to close the window at $608.73 per metric tonne from an earlier $621.64 per metric tonne. Gasoil price also decreased by 3.56% to close trading at $513.35 per metric tonne from $532.33 per metric tonne at the end of the first pricing window of March 2021. 

Local Forex

Data collated by IES Economic Desk from the Foreign Exchange (Forex) market shows the Cedi maintained its stability against the U.S. Dollar still trading at Gh¢5.73 to the US Dollar.

PROJECTIONS FOR APRIL 2021 FIRST PRICING-WINDOW

Due to factors including the 2.05% decrease in price of the International Benchmark- Brent crude, the 2.84% decrease in price of Gasoil, the 1.89% decrease in Gasoline price and the relative stability of the local currency against the US Dollar; the Institute for Energy Security (IES) projects for price of fuel on the domestic market at the various pumps to remain the same as we continue into April 2021. 

Source: Institute for Energy Security
Via: norvanreports
Tags: Gasoline and Gasoil pricesOil Marketing Companies (OMCs)petroleum productssecond pricing-window
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 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.