LPG prices to drop again – Marketers Association

The Liquefied Petroleum Gas (LPG) Marketers Association says consumers may continue to see a decline in the price of LPG if the price of the commodity further sees a downward trend in weeks to come.

Price of LPG from Monday has declined by 5% with the product currently selling at 12.40p per liter from GH¢13.20p a week ago.

This is the third consecutive time price of the commodity has seen a marginal drop in 2023.

However, speaking to Citi News, the Vice President for the LPG Marketers Association Gabriel Kumi says more efforts must be done to achieve wider penetration.

“5% decline began yesterday April 3. Two main reasons have accounted for the decline. One is the relative stability or strengthening of the cedi against the dollar. The cedi gained some 3% or 4% over the dollar over the past window. The second reason that influenced this decline is the drop in crude oil. Within the window, crude oil went down as low as 72 dollars per barrel. Once crude oil goes down, you should expect the prices of finished products to go down in the international markets. The projection is that, by the next pricing window, the price of LPG is likely to down again,” he stated.