Consumers can hope for a relief as the National Petroleum Authority (NPA) is projecting a drop in fuel prices by mid-March 2025.
Contributing factors for the projected drop include drop in global fuel prices and Cedi depreciation against the United States Dollar.
Additionally, Iraq’s decision to resume oil shipments from the Kurdistan area, tensions between the U.S and Ukraine, and new tariffs imposed by Washington are all major factors contributing to the reduction, the NPA cited a Reuters’ publication.
Moreover, from 15.5799 to 15.7077, the foreign currency rate (USD/GHS) used to price petroleum showed a little decline of 0.81%.
According to the NPA’s report, which projects changes in petroleum prices in the March 16 pricing window, consumers can expect price changes at fuel pumps.
If the projection manifests, this could also translate into transport fare reductions and have bearing on prices of other goods and services.
Source: Dehotpress
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