Fuel prices to go up again in New Year – IES hints

It is likely prices of fuel will receive a marginal rise in the early days of 2020, the Institute for Energy Security (IES) has hinted.

The IES, however, says the rise could be averted if the NPA applies the price stabilisation recovery levy.

“Taking into consideration the 4.07% increment in prices of Crock oil as well 4.5996 and 5.05% increment in the prices of Gasoil and Gasoline on the international market respectively; the Institute for Energy Security (IES) foresees prices of fuel on the local market potentially increasing marginally despite the cedi recording some marginal gains against the dollar within the period.

“However, the increases could be averted or its impacts minimized if the National Petroleum Authority (NPA) applies the Price Stabilization and Recovery Levy, (PSRL),” a statement by IES said.

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