• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, August 27, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Fuel price to stagnate for the rest of November- IES

November 16, 2021
Stephen M.Cby Stephen M.C
in Extractives/Energy
0
fuel

fuel pumps

The Institute for Energy Security (IES), has projected the price of fuel to remain at current levels for the rest of the month of November, 2021, despite the recent increase in the price of petroleum products.

The price of fuel on the domestic market saw an increase in the first pricing-window of November 2021, as majority of the Oil Marketing Companies (OMCs) added GHp10 to pump prices.

Price of fuel charged by market leaders; TotalEnergies, Shell and GOIL hovers around GHS6.90, while the current national average price of fuel per litre at the pump stands at GHS6.81 per litre for Gasoline and GHS6.79 per litre for diesel.

RelatedPosts

Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 

Oil Prices Steady as U.S. Tariffs on India, Ukraine War Shape Market Outlook 

Africa’s Energy Transition at Risk as Fossil Fuels Dominate Investment Flows – NRGI 

Oil Marketing Companies (OMCs) that sold the least-priced fuel were Benab Oil, Zen Petroleum, Cash Oil, Goodness Oil and Top Oil, a statement released by IES said.

“For the November Second Pricing-Window, with the 1.54 per cent decrease in the price of the International Benchmark- Brent crude, the 2.40 per cent increase in price of Gasoline, the 0.74 per cent increase in Gasoil price, and the 0.16 per cent depreciation of the local currency against the US Dollar; the Institute for Energy Security (IES) projects for price of fuel to remain stagnant for the window…”

Institute for Energy Studies

Based on data monitored by the IES from the Foreign Exchange (Forex) market, the Cedi is likely to depreciate against the U.S. Dollar by 0.66 per cent to close trading in the window at Gh¢6.13 to the US Dollar from the previous window’s Gh¢6.09 to the US Dollar.

petrol
Fuel attendant pumping fuel into a vehicle

On the international market, the price of Brent crude declined within the period with Brent selling on average at about $83.25 per barrel mark, a 1.54 per cent decrease from the previous window’s average price of $84.55 per barrel mark.

Price of refined products, Gasoline and Gasoil prices as monitored by S&P Global Platt’s platform however experienced marginal changes within the period. The price of Gasoline increased by roughly 2.40 per cent to close the window at $837.21 per metric tonne. Price of Gasoil also increased by 0.74 per cent to close trading at $720.50 per metric tonne.

The constant volatilities of Brent crude prices emanated from the geopolitical tensions existing between OPEC+ and the US as well as the rebound in economic activity as the economic impact of the pandemic subside.

Meanwhile, the benchmark price has fallen for the third consecutive week, on the basis of a strengthening dollar. Thus, a rise in US inflation rate expectations increased speculations of a hike in fuel prices, dampening foreign demand for Crude.

OPEC and its allies have also moved to forecast a downgrade for demand in the fourth quarter of 2021 by 330,000 bpd, citing the ongoing energy crunch and the corresponding rise in inflation as factors weakening the recovery.

Though there are positive signs on the demand side, considering the rapid rise in air travel, “we are not out of the woods yet,” IES said. This is due to the tighter monetary and fiscal policy and the coming winter which are likely to affect market performance.

READ ALSO: Budget to Determine Extension Period of NABCO Trainees

Tags: GasoilGasolineInstitute for Energy SecurityNovemberOil Marketing Companies
Please login to join discussion
Previous Post

Chamber of Young Entrepreneurs Anticipates 2022 Budget That Will Stimulate Productivity

Next Post

Develop the Infrastructure Base to Ensure Smooth E-Currency & AFCFTA Implementation- GNCCI

[mc4wp_form id="1264"]

Related Posts

Dr. Victor Asare Bampoe
General News

NHIA CEO Reaffirms Commitment to Universal Health Coverage

August 27, 2025
President John Dramani Mahama in a meeting with Singaporean President Tharman Shanmugaratnam
General News

A Man on a Mission: Singaporean President Lauds Mahama’s Leadership

August 27, 2025
Russia Vows To Respond To Ukraine Drone Attacks
Europe

Peskov Voices Russia’s Opposition To European Proposals On Security Guarantees For Ukraine

August 27, 2025
Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 
Extractives/Energy

Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 

August 27, 2025
Ablekuma North Violence under the lens
General News

NPP Demands Justice For Ablekuma North Violence Ahead of Akwatia

August 27, 2025
Russian Mercenaries Fuel Anger And Instability In Mali
Africa

Russian Mercenaries Fuel Anger And Instability In Mali

August 27, 2025
Dr. Victor Asare Bampoe
General News

NHIA CEO Reaffirms Commitment to Universal Health Coverage

by Silas Kafui AssemAugust 27, 2025
President John Dramani Mahama in a meeting with Singaporean President Tharman Shanmugaratnam
General News

A Man on a Mission: Singaporean President Lauds Mahama’s Leadership

by Evans Junior OwuAugust 27, 2025
Russia Vows To Respond To Ukraine Drone Attacks
Europe

Peskov Voices Russia’s Opposition To European Proposals On Security Guarantees For Ukraine

by Comfort AmpomaaAugust 27, 2025
Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 
Extractives/Energy

Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 

by Prince AgyapongAugust 27, 2025
Ablekuma North Violence under the lens
General News

NPP Demands Justice For Ablekuma North Violence Ahead of Akwatia

by Lilian AhedorAugust 27, 2025
Russian Mercenaries Fuel Anger And Instability In Mali
Africa

Russian Mercenaries Fuel Anger And Instability In Mali

by Lawrence AnkutseAugust 27, 2025
Dr. Victor Asare Bampoe
President John Dramani Mahama in a meeting with Singaporean President Tharman Shanmugaratnam
Russia Vows To Respond To Ukraine Drone Attacks
Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 
Ablekuma North Violence under the lens
Russian Mercenaries Fuel Anger And Instability In Mali
[/vc_row_inner]

Recent News

  • NHIA CEO Reaffirms Commitment to Universal Health Coverage
  • A Man on a Mission: Singaporean President Lauds Mahama’s Leadership
  • Peskov Voices Russia’s Opposition To European Proposals On Security Guarantees For Ukraine
  • Energy Minister Projects Fuel Stations Transitioning into EV Battery Hubs 
  • NPP Demands Justice For Ablekuma North Violence Ahead of Akwatia
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.