- June 29, 2022
- Posted by: Amos Ekow Coffie
- Categories: Banking and Finance, Economics
Prices of petroleum products are expected to witness some mixed reviews at the pump stations from this weekend (2nd July, 2022).
This is based on data from then Bulk Oil Distribution Companies sighted by Joy Business.
The price of petrol is expected to go down by almost 8% per liter.
A kilogram of Liquefied Petroleum Gas (LPG) may also go down by over 7%.
However, the price of diesel will increase by over 3% per liter.
The reduction in the price of Petrol and LPG, Joy Business understands, has been influenced by some favorable developments on the international market.
It is the hope that the over 150 Oil Marketing Companies (OMCs) will pass on these reductions to consumers beginning this weekend.
Prices of petroleum products shot up by about 11% on June 16th, 2022.
Petrol is currently being sold on the market for about ¢11 per litre, whereas diesel is going for ¢14.
Crude oil is presently trading at 117 dollars a barrel, whilst the cedi assumed a relative stability after speculation that government might consider a programme from the International Monetary Fund.