Petroleum prices in Ghana are expected to decline marginally at the pumps starting today, April 16, 2025.
According to a pricing outlook report used by Oil Marketing Companies (OMCs) to determine pump prices, the anticipated reductions reflect recent trends on the international market.
Petrol prices are projected to fall by 1.5 percent, bringing the cost per litre down to GH₵14.88.
Diesel is expected to see a modest decrease of 0.3 percent, selling at GH₵15.50 per litre, while a kilogram of Liquefied Petroleum Gas (LPG) is also forecast to drop by 0.3 percent, settling at GH₵17.45.
If these projections are implemented by the country’s over 100 OMCS, it will mark the fifth consecutive drop in fuel prices since February 2025.
The steady decline is largely attributed to the consistent fall in global crude oil prices, which have dropped from US$72 to around US$64 per barrel in recent weeks.
Additionally, the cost of refined petroleum products has also decreased significantly, with diesel prices falling by 3.72 percent and LPG plummeting by 9.61 percent on the international market.
Despite the downward trend, the Ghana Private Road Transport Union (GPRTU) has indicated that a reduction in transport fares is unlikely for now.
The union argues that fuel prices alone do not determine fare adjustments.
Other factors—such as the rising cost of vehicle insurance and spare parts—also weigh heavily on transport pricing.
The GPRTU has stated that unless fuel prices drop to around GH₵12 per litre, fare reductions remain off the table.
Nonetheless, the ongoing decline in fuel prices could offer some relief to consumers by easing the overall cost of living, which has already begun to show signs of improvement since the start of the year.