The price of fuel at the pumps has fallen for the second time this year.
It is reflecting at some Oil Marketing Companies today, Thursday, 16 February 2023.
State oil company GOIL, for instance, is selling a litre of petrol at ¢14.50 from the previous ¢15.25.
It is about a five-per cent drop in price.
Diesel has also fallen by about three per cent to ¢14.90 per litre.
A fairly stable cedi and a fall in the price of crude on the international market are linked to the downward price trend.
Energy think tank Institute for Energy Security (IES) had predicted the fall by between 7.1% and 10.8%.
According to the IES, petrol was expected to sell at about ¢14.40 per litre and diesel at ¢13.90 per litre.
It, however, noted that the price of LPG per kilogramme may rise to ¢14.70 before the close of second pricing-window for February 2023.
The international crude oil benchmark Brent fell to about $82.89 per barrel on average terms from a previous average rate of $86.14 per barrel.
This represented a 3.77% fall in the average price over the last two weeks.
The window saw the price drop to about $79.72 per barrel at close of trading day February 5, after which the price has seen slow increases and closed the window trading day at about $86.39 on February 10, 2023.
