Fuel prices in Ghana set to drop by up to 9% - ASEC
The drop is driven by the appreciation of the cedi against the dollar
Ghanaians can expect a 5–9% reduction in fuel prices in the upcoming pricing window, according to the Africa Sustainable Energy Centre (ASEC).
The anticipated drop is largely driven by the recent appreciation of the Ghanaian cedi against the US dollar.
According to a statement released on May 30, 2025, ASEC, in its latest market assessment, revealed that petrol prices are projected to fall to between GH₵12.00 and GH₵12.60 per litre.
“The Africa Sustainable Energy Centre (ASEC) has announced a projected 5–9% drop in fuel prices across Ghana in the upcoming pricing window, driven primarily by the recent appreciation of the Ghanaian cedi against the US dollar.
“According to ASEC’s market assessment, petrol is expected to sell between GH₵12.00 and GH₵12.60 per litre, while diesel prices are forecast to range from GH₵12.60 to GH₵13.20 per litre. This represents a reduction of between 5% and 9% compared to the previous pricing window.
ASEC attributed the expected price drop mainly to the stronger cedi, which has reduced the local currency needed to import petroleum products. Though global crude oil prices have also declined from around $85 per barrel in January to $64 currently, the exchange rate impact is seen as more decisive.
Looking ahead, ASEC forecasts continued stability in global oil markets, with prices likely to average between $62 and $65 per barrel for the rest of the year.
“Looking ahead, ASEC anticipates continued stability in global oil markets, with crude prices expected to average between $62 and $65 per barrel for the remainder of the year.
“This outlook is supported by increased production from OPEC+ and reduced global demand, particularly in the US and China, amid ongoing trade tensions,” the statement continued.
However, ASEC warned that while the fuel price cuts benefit consumers, they may also reduce government revenue from crude exports, potentially prompting Ghana to ramp up production to mitigate losses.
ID/EB
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