The price of Liquefied Petroleum Gas (LPG) is expected to fall by about 7.0% from tomorrow, June 16, 2023.

According to the LPG Marketers Association, the reduction will be caused by about a 10% drop in the prices of the commodity on the international market.

Its Vice President, Gabriel Kumi, said, though the cedi has lost some grounds, the drop in prices of crude oil and finished products on the international market should trigger a fall in the price on the local market by about 7.0%.

“Quite clearly consumers should expect a decline in the prices of LPG beginning tomorrow [June 16, 2023]. We are looking at an average of about 7.0% decrease in the price of LPG”.

“If we are lucky, competition can drive that down to about 10%”, he added.

Crude oil has been relatively stable so far, hovering around $73-76 per barrel over the past two weeks.

The Chamber of Petroleum Consumers had earlier predicted a marginal increase in the prices of petrol and diesel with unchanged price of LPG for the next two weeks.