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Wednesday 24 May 2017


[B] Tullow eyes new fields beyond Jubilee & TEN
[B] ECG concession: bidders reduced to 6; MIDA sets eyes on financially viable bidde
[B] Former MP demands details on the 150 investors for ‘1-district, 1-factory'
[B] We need power to turn economy around – Agyarko
[S] Akufo-Addo's changes to ECG 'sale' agreement quite impressive - PUWU
[N] Kumbuor approved military protection for Ukraine, Russia galamseyers – MP
[N] 9 cars burnt, shops destroyed in a fire outbreak at Suame Magazine
[N] I insist Baba Jamal is involved in galamsey - Wontumi
[N] Man found dead in an abandoned dam
[N] 495 allied health professionals get financial clearance
[N] Spio Garbrah should be commended for GSA scandal investigations - Sorogho
[N] Alex Segbefia urges prosecution of culprits in Central Medical Stores fire
[N] Crentsil and family squandered GSA funds – PRO
[N] Ghana needs measures to stop illegal migration - Dr Ocansey
[N] Three (3) Ghana Gas helicopters missing
[N] Military protecting illegal mining sites – Amewu
[N] Amewu arrest 4 for engaging in galamsey at Amadaa
[N] Pastor, fetish priest clash over juju money


[S] I lose nothing over Ghana banishment – KP Boateng
[S] Tony Baffoe urges government to create fund for Black Starlets
[B] Dumsor hit Vodafone Ghana badly - CEO
[B] Government to invest 30% only in 'One-District One-Factory' - Alan Kyeremanten
[B] Dollar has taken a commanding lead again
[B] Atuabo project was bloated by over $40m – Dr. Manteaw
[B] ECG using outdated methods to recover debts - NDC MP
[B] BoG reduces policy rate to 22.5%
[N] I’m not naive about corruption – Akufo-Addo
[N] Police begin manhunt for Tatale robbers
[N] Teenage pregnancy declines in Ashanti
[N] $13.9 million Veep's residence abandoned?
[N] UCC sued over suspension of 22 students
[N] Two fake soldiers arrested
[N] Otumfuo supports ban on Galamsey
[N] Government worried about Alavanyo-Nkonya killings – VR Minister  
[N] Politicians mourn with Woyome
[N] NDC chair, 4 robbers and 2 others killed in robbery gun battle
[N] 15 'corrupt' customs officers fired
[N] 3 robbers killed in shootout with police
[N] Girl, 16, dies after committing abortion
[N] Prof. Badu Akosa can't be our Chief – Kwahu Queen Mother
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[ 2017-05-17 ]

Fuel prices to drop in 2nd pricing window of May – IES
The Institute of Energy Security (IES) has
predicted an average drop of 1.03% percent in fuel
prices for the second pricing window.

According to IES, current developments across the
globe indicate that fuel prices will drop slightly
for the next pricing window in May.

World Oil Market Indices for Benchmark Brent crude
prices have been falling virtually every day for
the past 15 days which has reflected in some fuel
stations. Checks by the institution show that the
average price for Gasoline and Gasoil is GH3. 94
and GH3.90 respectively.

Principal Research Analyst at the institute of
Energy Security, Richmond Rockson who spoke to
Citi Business News said prices for petroleum
products will continue to drop for the second
pricing window in May.

“Going forward we should expect prices to come
down that is in this current window but in the
month of June that is the first window it will
depend on how strong the Ghana cedi is because
when you look at the world market prices are said
to stabilize for a while because production is
still on going like in the United States oil
production is still ongoing.”

Richmond Rockson however said the prices for
petroleum products in June will depend solely on
the strength of the cedi.

Basis for projections

With crude oil price falling by over 5%, Gasoline
and Gasoil prices dropping by approximately 8%,
fuel stocks capable of meeting over 4 weeks of
national demand, and the Ghana cedi remaining
fairly stable against the U.S. dollar consumers
can expect to get a break at the fuel pump.

Industry response

The local fuel prices recorded an average drop in
1.03% on Gasoline and Gasoil combined, during the
first 15 days of the month of May 2017.

Shell, Total, Goil, Puma, Lucky Oil and Frimps Oil
were among the few Oil Marketing Companies (OMCs)
to effect price drops at the pump over the past
weekend due to competition for market shares.

Source -

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