Prices of fuel to go down tomorrow

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The National Petroleum Authority has marginally reduced prices of petroleum products including diesel and petrol. The new prices take effect from tomorrow, 16th November 2013.

Petrol is expected to sell at GHp2.120 per litre from the current price of GHp2.135 per litre (a percentage of 0.71%). Diesel would now go for GHp2.22 from the current price of GHp2.231(a percentage of 0.51%).

Prices of LPG and kerosene also went down by 0.29 percent. Premix fuel also declined by 0.27 percent.

A statement issued by the NPA said: “In the month of October, there were two bi-weekly reviews which yielded a cumulative reduction in fuel prices of nearly 6%. Then there was a near 2% increment in November 1st to be followed by this reduction which is less than 1%.

“This trend in the behavior of the prices is a demonstration of the principle that the consumer will benefit from price reduction where applicable and where upward adjustments occur, it will reflect at the pump.”

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