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Friday 20 October 2017

2017-10-12

[N] PURC boss, Samuel Sarpong, sacked
[N] Don’t stampede gov’t into closing fuel stations – OMCs
[N] £350k Scandal: Otumfuo clean – Sacked Bank Official
[N] 245 suspected drug peddlers, prostitutes arrested in Ashanti
[N] Don’t follow ‘malicious’ social media – Rawlings advises Media General
[N] Gov’t withdraws Zongo Development Fund bill

2017-10-11

[B] Ghana woos investors at IMF/World Bank Meetings
[B] Hybrid power stations to add 850MW to grid
[N] Agric College Students Picket At MoFA Today
[N] We don’t need cabinet meeting to solve gas explosions – Namoale
[N] Cost of home loans drop to 30.6 %
[B] Ghana’s exports rise to $ 8.9 billion
[N] Gov’t investigating report of Ghanaian ISIS fighters – Majority
[N] Tension in Bimbila ahead of late chief burial Thursday
[N] Akufo-Addo's 'one achievement, one launch' is new NPP strategy
[N] God is the reason - 13-year-old KNUST student says
[N] Workers on the Kejetia market project to lay down tools following threats
[N] Parliament tasks 3 committees to investigate gas explosions
[N] Mansco Gas must compensate explosion victims – Mahama Ayariga
[N] Police accused in Delta Force 13 case

2017-10-10

[B] Airlines upbeat about boost in business
[N] Earlier charges against Delta Forces dropped
[N] SUNDA Int. & TWYFORD Ceramics donate to gas explosion victims
[N] Operation to ban public smoking in Tamale to be activated after six arrested in
[N] AUCC founder launches book about his life as public servant and private citizen

2017-10-09

[S] Ghana Rugby team beats Mauritius in impressive Sevens campaign
[N] Thieves steal car at Legon after man fled from Atomic gas explosion
[N] Fuel explosions: NPA to employ 200 extra safety auditors – Agyarko
[N] Petrochemical workers opposed gov’t's new policy on gas explosions – Abu Ramadan
[N] Kwadaso Agric. College Students boycott lectures over unpaid allowances
[N] Court grants withdrawal of application against lawyer for EC boss
[N] Nana Addo to personally pay for presidential correspondent’s funeral
[N] NDC financiers, others frustrated our fight against 'illegal' fuel stations - Ay
[N] New Ya-Naa Will Be My 1st Year’s Crowning Achievement – Akufo-Addo

2017-10-08

[N] Kwadaso MP visits flood prone areas after heavy down pour
[I] Ellen Johnson Sirleaf Touts Legacy As She Prepares To Step Down  
[N] Wassa Akropong Shooting; 4 Arrested
[N] Brother Of 13-Year-Old KNUST Student To Break Sister’s Record
[N] Encroachment of Owabi Forest cause of flooding at Atafoa- Assemblyman
[N] Kwadaso: building kills 2, 1 in critical condition
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Business

[ 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 - citibsinessnews.com



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