Fuel Prices To Remain Stable

The National Petroleum Authority (NPA) has announced that the prices of Petrol and Liquefied Petroleum Gas (LPG) will remain unchanged at the pumps from January 1, 2018.

NPA explained in a statement that the reason for the steady prices fall “in line with a drop in crude and petroleum prices on the world market, as well as stability in the exchange rate.”

The NPA further noted that it has “activated the Price Stabilization and Recovery Levy to stem potential upward adjustment in the price of diesel.”

It will be recalled that the Institute of Energy Security (IES) had predicted that there will be no significant changes in the prices of fuel at the pumps during the yuletide.

IES Principal Research Analyst Richmond Rockson on Thursday, December 14, said the reason is “due to the fairly stable price of both Crude oil and refined products on the global oil market, coupled with the marginal dip of the Cedi’s value against the U.S. Dollar”.