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IES: Prices of Diesel To Reduce At The Pumps, Petrol To Remain Unchanged
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Average price per litre of fuel still Gh¢5 16 over stable prices – IES
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The Institute for Energy Security (IES) says the price of diesel at the pumps will reduce while petrol will remain unchanged for the second pricing window in April 2021.
According to a statement by IES, this is based on a 2.40% decrease in price of the International Benchmark- Brent crude, the 2.65% decrease in price of Gasoil, the 1.83% increase in Gasoline price and the 0.17% depreciation of the local currency against the US Dollar.
“The IES projects for price of gasoil (diesel) on the domestic market at the various pumps to reduce. Gasoline (petrol) prices are however expected to remain as we continue into the second half of April 2021,” the statement said.
Diesel Price To Reduce; Gasoline Price To Remain Stable
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The Institute for Energy Security (IES) has described as ‘wasteful and ill-advised’ government’s decision to change its energy baseload.
According to the Institute, government trying to introduce nuclear into the country’s energy mix is of concern considering that countries like Italy, Spain, and Germany among others are moving away from it due to its complication.
“The institute sees the push for nuclear power as backward, given that times have changed to favour solar and wind energies, instead of nuclear power, based on economics, safety and security risks, and investment hurdles,” IES emphasized.
In a statement, it noted that government’s argument that the nuclear plant provides regular and cheap to push the nation’s industrialization efforts is ‘flawed’ and does not reflect support current changes in the global power space.