Fuel prices in Ghana are set to drop at the pumps starting Monday, June 16, 2025, following the government’s decision to postpone the implementation of the GH¢1.00 Energy Sector Levy.
This anticipated reduction is highlighted in the latest Pricing Outlook Report compiled by the Chamber of Oil Marketing Companies (COMAC), and it will mark the seventh consecutive decline in fuel prices since February 16, 2025.
According to projections by oil marketing companies, petrol is expected to be sold at approximately GH¢11.77 per litre, reflecting a reduction of between 1.1% and 2.25% from prices recorded on June 1, 2025.
Diesel is projected to experience one of its most significant price drops in recent months, falling by up to 4.3% to sell at around GH¢12.13 per litre.
Liquefied Petroleum Gas (LPG) is also expected to decline by 3.2%, with the price per kilogram settling at about GH¢13.30.
COMAC attributes the downward trend primarily to the continued appreciation of the Ghanaian cedi against the US dollar, which has helped absorb some of the global price shocks, despite recent increases in international fuel prices.
These global increases were exacerbated last week by renewed conflict between Israel and Iran, which sent Brent crude prices climbing to approximately $75 per barrel, the highest in months.
The report warns, however, that the current surge in crude prices, driven in part by geopolitical instability and rising tensions in the Middle East, poses a risk to the country’s fuel price stability.
Crude prices rose by 4.41%, from $65.35 to $68.23 per barrel, as the conflict escalated.
The situation intensified after Israel launched strikes on Iran’s nuclear sites, prompting the United States to order a partial evacuation of its embassy in Iraq due to security concerns.
As a result, international prices for petrol and diesel rose by 1.03% and 3.94%, respectively, while LPG prices declined by 1.79%.
COMAC’s analysis shows that, had the government not postponed the additional GH¢1.00 levy, consumers would have faced significant price hikes at the pumps.
Petrol would have increased by about 9.1% per litre, and diesel by 8.25% per litre, while LPG prices would have still seen a slight drop of 2.29%, since it was not directly affected by the levy.
COMAC officials caution that if global crude prices continue their upward trajectory, fuel prices could begin to rise again from July 1, 2025.