Finance

Cedi gains against the US dollar – IES

The Institute for Energy Security (IES) has noted that figures collated by its economic indicate that the cedis appreciated against the US Dollar by 0.35 per cent.

This, according to the IES, affected crude oil prices to remain fairly stable over the period.

Raymond Nuwokoor, Research and Policy Analysts at the IES said in a statement that Prices of Petroleum products remained largely stabled in pricing window under review against expected increase Based on markets valuables.

Majority of the oil marketing companies (OMCs) including Market leader Goil maintained the prices of Gasoline and gasoil within the period.

As a result the average national price per litre stands at GHS4.80 for both gasoline and gasoil.

“Collated data by the IES Economic Desk from the Foreign Exchange (Forex) market show that the cedi appreciated by 0.35% against the US dollar, trading at an average prices of GHS5.73 over the period under assessment.

“By virtue of relate stability in prices of brent crude, Gasoline and Gasoil on the international market the Institute for Energy finds prices of fuel on the local market remaining largely fixed.

“The price stability projection is reinforced by 0.35% appreciation of the local currency against the US Dollar, the major trading currency,” the statement said.

 

Source: Class FM

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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