Fuel Prices to Stabilize in October—IES

The Institute of Energy Security (IES) is predicting fairly stable fuel prices for the first window pricing in October.

This the institute attributes to indicators such as the stability of the cedi as well as a 6% drop in gasoline price.

Fuel prices have for some time now been going up due to the hurricane Harvey among others.

Principal Research Analyst at the IES Richmond Rockson says consumers should expect stable prices for the first quarter in October.

“We are expecting fuel prices to be stable in the next pricing window. Crude oil prices have gone up. Although it’s gone up we don’t think it is going to have any impact in this window. The cedi has been fairly stable from the previous average of 4.48 still around the same figure”.

“We are expecting the price of gasoline to be lower in this week whiles gas oil will go up but it is going to balance there because it all increased and dropped by 6%. So, consumers should expect price stability in this window” he added.

Source: Citibusinessnews