The Institute for Energy Security (IES) has projected that petroleum product prices will remain stable on the local market for the second half of August 2024.
This prediction is attributed to the slowed depreciation of the local currency and recent international market trends observed in the first half of August 2024.
Petrol and diesel prices saw positive changes, with decreases of 2.83% and 4.46%, respectively.
In contrast, Liquefied Petroleum Gas (LPG) experienced a price hike of approximately 2.66%. Meanwhile, the cedi depreciated by 0.77% against the U.S. dollar.
The IES indicated that, unless there are regulatory or policy changes within the sector, fuel prices are likely to stay stable over the next two weeks.