The Institute for Energy Securities (IES) predicts a slight drop in the prices of petrol and diesel in the second price window starting February 16.

0

However, the price of Liquefied Petroleum Gas (LPG) is expected to remain stable.

1

This forecast is attributed to a reduction in the international prices of finished products, despite a 2.18% year-to-date depreciation of the Ghanaian cedi against the U.S. dollar.

2

Brent crude oil prices have stayed within the $70 per barrel range, experiencing a gradual decline toward the end of the first pricing window for February 2025. Before the release of the U.S. Energy Information Administration (EIA) report on February 7, Brent crude was priced at $75.93 per barrel. Following the report, it fell to $75.85 due to rising U.S. crude oil inventories and seasonal market adjustments.

3

By the close of the first pricing window, Brent crude saw a 5.65% decrease, dropping from $81.08 per barrel to $74.74, with an average price of $75.38 for the bi-weekly period.

4

Petroleum price performance data from Standard & Poor’s (S&P’s) Platts, covering the first half of February 2025, reflected global market trends. The closing prices for fuel were reported as $722.17 per metric tonne for petrol, $708.67 per metric tonne for diesel, and $622.46 per metric tonne for LPG.

5

In the first pricing window of February 2025, local fuel prices saw increases, marking the third price adjustment of the year. Petrol and diesel prices both rose, with petrol increasing by GH₵0.24 per litre and diesel by GH₵0.45 per litre.

6

Based on price data from Oil Marketing Companies (OMCs), the IES computed the national average price for refined petroleum products during this period. As of the first pricing window of February, petrol was priced at GH₵15.61 per litre, diesel at GH₵15.65 per litre, and LPG at GH₵18.79 per kilogram.

7