If the Cedi continues to fall in value, fuel could reach GH17 per liter - IES.
According to Nana Amoasi III, Executive Director of the Institute of Energy Security, Ghana may not benefit from the drop in global fuel prices as a result of the depreciation.
According to him, Ghana will benefit little or nothing from lower fuel prices until the cedi begins to appreciate.
"Prices on the global market have decreased, but our consumers may not benefit from this because our local currency, the cedi, which is the key variable in determining local market prices, continues to depreciate against the imparting currency, the dollar," he is quoted as saying by citinewsroom.com.
"If the cedi continues on this path, Ghanaian consumers may miss out on any price reductions on the international market." If we are unlucky and continue to see price increases, our prices will rise. "We might start selling a litre for 17 cedis," Nana Amoasi III said.
The Ghana Cedi is currently selling for GH10.51 at some Accra forex bureaus.
Despite some global market reductions, petrol and diesel are selling above GH11 and GH13 at various fuel pumps.
Also see today's weather forecast for September 19, 2022.
According to the Ghana Meteorological Agency, general cloudy weather is expected throughout the day across the entire country, with early morning foggy/misty conditions over the higher grounds of the southern half.
Additionally, thundery and rain activity is expected this morning and afternoon over parts of the Northem and Middle sectors, with intermittent rains expected over the Coastal sector throughout the day.
The maximum temperature in Accra is expected to be tropical 29°C, with a minimum temperature of 23°C.
The full weather forecast for the day is provided below.
read more: Akufo-Addo and Rebecca Akufo-Addo enter Westminster Abbey for Queen Elizabeth's funeral
President Nana Addo Dankwa Akufo-Addo and his wife, Rebecca Akufo-Addo, have arrived at Westminster Abbey for Her Majesty Queen Elizabeth II's final funeral rites.
Despite the fact that the president's trip to London for the funeral has not been officially announced, President Akufo-Addo hinted at his intention to attend the Queen's state funeral when he signed her book of condolences last week.
"I intend to travel to London for the funeral; do you have anything specific to tell me about that?" He enquired with High Commissioner Harriet Thompson.
Several heads of state and dignitaries have been trooping into the London Chapel, where the Queen's coffin will be brought for the service, ahead of the start of the service on Monday, September 19, 2022.
President Akufo-Addo, who was dressed in a black suit and white shirt, was flanked by his wife, who was also dressed in a black dress and accessorized with a scarf and a handbag.
The late Queen, christened Elizabeth Alexandra Mary and born on April 21, 1926, ascended to the British throne at the age of 25 and ruled for 70 years.
On Thursday, September 8, 2022, she died at the age of 96.
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