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Business News of Monday, 16 August 2021

Source: www.ghanaweb.com

Fuel prices set to reduce in second half of August 2021

According to the IES, the price of fuel on the local market remained stable According to the IES, the price of fuel on the local market remained stable

The Institute for Energy Security (IES) has projected that the price of fuel is likely to take a dip in the second half of August 2021.

The statement signed by Research Analyst at IES, Fritz Moses, noted that following a 15-day rolling basis, the price of fuel on the local market remained stable within the window under assessment.

“Price of petroleum products within the first pricing-window of August 2021 saw the Oil Marketing Companies (OMCs) continue to maintain prices at the pump from the first pricing window of July," the statement read in part.

This pricing window according to the IES Market Scan saw local fuel stations recorded as the OMCs that sold the least priced fuel on the local market.

Meanwhile, the current national average price of fuel per litre at the pump station remains pegged at GH¢5.97 for both Gasoline and Gasoil on account of the relative price stability.



Below is the full statement by the IES:

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