Fuel prices to remain unchanged - IES

The Institute for Energy Security (IES) has stated that there is a high tendency fuel prices may not change despite fears of an increment in the coming days.

According to IES, figures show the cedi has experienced a marginal appreciation against the trading currency.

The dollar is going for GH¢4.80 currently as against GH¢4.83 in the last pricing window.

Giving a breakdown of the local market performance, IES stated that although prices of fuel at the pumps experienced a 2% hike in the window under review, some subsidiaries sell at the lowest.

The IES Market-scan showed that Benab Oil sells the lowest-priced fuel on the market relative to other OMCs; followed by Frimps Oil and Zen Petroleumadding that other relatively low cost fuels can be sourced from Pacific Oil, Lucky Oil and Alinco Oil.

With the cedi making some gains against the dollar, the Institute projects that prices at the pump will remain relatively.

Below is a full report of the Review of the August Second Pricing-Window.