• 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

IES Anticipates Major Reduction in Fuel Prices in March’s Second Pricing Window

5 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
86
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IES Anticipates Major Reduction in Fuel Prices in March’s Second Pricing Window

The Institute for Energy Security (IES) has projected a significant drop in local pump prices for all petroleum products in the second pricing window of March 2025. According to the IES, gasoline prices are expected to decline by 4.5%, gasoil by 3.2%, and liquefied petroleum gas (LPG) by 4.5%.

The anticipated reduction in local pump prices is attributed to substantial declines in global fuel market prices recorded across all three key petroleum products during the first pricing window of March 2025. Data monitored by the IES indicate that international market prices for gasoline fell by 9.00%, gasoil dropped by 6.33%, and LPG saw an 8.98% reduction.

Additionally, the Ghanaian cedi experienced a slower depreciation rate of 0.19% against the U.S. dollar—the lowest rate of decline since the beginning of the year. The downward trend in fuel prices has largely been driven by the collapse of crude oil prices on the global market. The IES suggests that to sustain this price reduction, the government should consider building strategic fuel reserves while prices remain low.

Local Fuel Market Performance

The first pricing window of March 2025 saw relative price stability in the local fuel market, following a general decline in petroleum product prices in late February. Most Oil Marketing Companies (OMCs) maintained their per-litre prices for both gasoline and gasoil. However, three OMCs reviewed their prices downward, leading to a cumulative average reduction of approximately GH₵0.10 for both products.

Using a purposive price sampling approach, the IES computed national average prices for the period under review. Gasoline and gasoil were sold at GH₵15.45 and GH₵15.50 per litre, respectively, reflecting the price levels from the previous window. Meanwhile, LPG prices remained stable at GH₵18.79 per kilogram.

RelatedPosts

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion 

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny

BOST Holds 2025 AGM, Tasked to Deliver Profitability and Support Green Transition

Global Fuel Market Trends

Data from Standard & Poor’s (S&P) Platts for the first pricing window of March 2025, which closed on March 11, 2025, showed a consistent decline in refined petroleum product prices. At the close of the pricing window:

  • Gasoline prices fell from $709.66 per metric tonne to $645.81, representing a 9.00% decline.
  • Gasoil prices dropped from $720.16 per metric tonne to $674.56, marking a 6.33% decrease.
  • LPG prices declined from $609.34 per metric tonne to $554.64, reflecting an 8.98% reduction.

With these developments, consumers can expect some relief at the pump in the coming days as OMCs adjust prices downward in line with market trends.

Tags: IESIES Anticipates Major Reduction in Fuel Prices in March's Second Pricing Windowsecond pricing-window

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Brussels Airlines Adds 5 More A320neo Aircraft to its Fleet

Bog Governor Hints at $4bn Inflows From COCOBOD Financing Deal to Support Cedi

Dangote to Build $2.5 Billion Fertiliser Facility in Ethiopia

Top 10 African Countries With the Lowest Debt to the IMF in August 2025

Ghana Ranked Among Top 10 Best-Governed African Countries in 2025

Cocoa Marketing Company (CMC) Secures Major Win for Ghana at the Annual Cocoa Freight Negotiation Conference in Rouen, France

Trending

Business

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion 

August 29, 2025

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion  Ghana’s finance minister, Cassiel...

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny

August 29, 2025

BOST Holds 2025 AGM, Tasked to Deliver Profitability and Support Green Transition

August 29, 2025

Brussels Airlines Adds 5 More A320neo Aircraft to its Fleet

August 29, 2025

Bog Governor Hints at $4bn Inflows From COCOBOD Financing Deal to Support Cedi

August 29, 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.