Petroleum prices to go down

The prices of petroleum products are expected to go down latest by midday to reflect new margins agreed between the National Petroleum Authority and the Oil Marketing Companies (OMCs).

Speaking to an Accra-based radio station, JOYFM, the Chairman of the NPA, Prof. Addae-Mensah said all prices of petroleum products are expected to go down except LPG which has been increased marginally to reflect falling prices on the World market.

The expected reductions are Petrol 35, 609 from 36, 467 cedis; gas oil or diesel 34, 867 from 35, 395 cedis; premix 23, 347 from 23, 995. Kerosene remains at 30, 000 cedis whilst Liquefied Petroleum Gas (LPG) goes up from about 101, 000 to about 106, 000 cedis per 14.5km bottle of the product.

The NPC says the price review would be on monthly basis instead of the usual quarterly.