Marginal Drop in Fuel Prices Expected at Ghana’s Pumps Today, April 16
Fifth Consecutive Fuel Price Decrease Anticipated
- Liquefied Petroleum Gas (LPG) is also forecasted to decrease by 0.3 percent
- Diesel prices are also expected to see a marginal reduction of 0.3 percent
- These recent developments in the fuel market could potentially lead to discussions
Motorists across Ghana, including those in the Greater Accra Region, can expect a slight decrease in the prices of petroleum products at the pumps starting today, Wednesday, April 16, 2025. This projection is based on the latest pricing outlook report that guides the pricing strategies of Oil Marketing Companies (OMCs) operating in the country.
Price Adjustments:
- The price of petrol is projected to decrease by 1.5 percent, bringing the cost per liter down to approximately GH₵14.88.
- Diesel prices are also expected to see a marginal reduction of 0.3 percent, with a liter likely selling at around GH₵15.50.
- Liquefied Petroleum Gas (LPG) is also forecasted to decrease by 0.3 percent, with a kilogram potentially costing GH₵17.45.
If the over 100 OMCs operating in Ghana implement these projected reductions, it will mark the fifth consecutive decline in fuel prices since February 2025, offering some respite to consumers.
Underlying Factors:
The anticipated price decrease is primarily attributed to the sustained decline in crude oil prices on the international market over the past few weeks. Crude oil prices have fallen from around US$72 per barrel to the current trading level of approximately US$64 per barrel.
Furthermore, the prices of finished petroleum products have also been trending downwards on the global market. Diesel saw a decrease of 3.72 percent, while LPG experienced a significant drop of 9.61 percent.
Potential Implications:
These recent developments in the fuel market could potentially lead to discussions between the government and transport operators regarding a reduction in transport fares, which would be welcome news for commuters in areas like Adenta and beyond.
However, officials from the Ghana Private Road Transport Union (GPRTU) have previously indicated that fuel price reductions are not the sole determinant of transport fares. They cite other significant factors such as the cost of insurance and the prices of spare parts.
According to the GPRTU, the union anticipates fuel prices dropping to around GH₵12 per liter before considering a reduction in transport fares.
Despite this, the consistent decline in fuel prices since February has the potential to contribute to a gradual easing of the cost of living for many Ghanaians.
