Market
Oil drops by 3% to reflect reductions on market
Crude oil prices keep plummeting. The commodity is being traded at about 87 dollars a barrel on the international market on Monday.
If this development continues coupled with the Bank of Ghana’s ability to provide enough forex at a good rate for the BDCs, fuel prices in Ghana are likely to decline at the pumps in the next pricing window on December 1, 2022.
Oil prices keep dropping after it decreased by more than 2 dollars a barrel on Friday for a second weekly decline. This is due to concern about weakened demand in China and further increases to U.S. interest rates.
Brent crude is down by 0.72 percent and is being offered at 86 dollars 99 Cents a barrel having reached its lowest level since September at 85 dollars 80 Cents. Should this decline persist petroleum consumers would heave a sigh of relieve as prices could drop a little further.
A strong Cedi could make this a reality. Currently, price of diesel has dropped from GH¢23.49 a litre to GH¢20.50 a litre. Petrol also reduced from GH¢17.99 to GH¢16.82 per litre.
CLICK HERE TO DOWNLOAD PRESS RADIO MOBILE APP
Liquified Petroleum Gas has not witnessed a decline on the international market and will increase in the next pricing window, December 1, 2022.
Source: gbcghanaonline.com
-
Lifestyle4 weeks ago
Road Safety Authority narrates how buttocks causes road accident
-
GENERAL NEWS1 month ago
Why 15 police officers stormed Owusu Bempah’s church – Kumchacha narrates
-
GENERAL NEWS4 weeks ago
Watch how Ibrahim Mahama rode Honda superbike to pay last respects to late friend
-
GENERAL NEWS1 month ago
How Offinso residents storm destooled queen mother’s house, demand for new chief
-
South Africa News1 month ago
Woman thrown out of a speeding taxi while on her way to work
-
GENERAL NEWS2 weeks ago
Deadly clash between youth and navy personnel results in two deaths at Tema Manhean
-
SHOWBIZ KONKONSAH2 weeks ago
Junior Pope’s Death: Video of John Dumelo refusing to join canoe for movie shoot over safety concerns resurfaces
-
News Africa2 months ago
‘Satanically dubious’ – SCOAN releases statement on BBC’s report about TB Joshua, church