Ghana falls to 20th spot in Africa’s lowest fuel price rankings

Ghana has dropped sharply in the rankings of African countries with the lowest fuel prices, falling from 13th to 20th position.

According to GlobalPetrolPrices.com, Ghana’s average petrol price of $1.211 per litre in May 2025 ranks it 77^th globally compared with 48^th in April 204.

It is unclear why a sudden sharp fall in Ghana’s position instead of a rise, since the Ghana Cedi has been improving in value against the US dollar and the other major foreign currencies.

Libya retained the number one position in Africa with the lowest fuel price of $0.027 per litre on the African continent. It was also ranked first globally.

Angola and Algeria came 2nd and 3rd, respectively, with fuel prices of $0.327 and $0.344 per litre. They were ranked 4^th and 6^th, respectively, in the world.

From 4th, 5th, 6th, 7th, 8th and 9th were Egypt ($0.377), Nigeria ($0.537), Sudan (0.700), Tunisia ($0.835), Liberia ($0.871), Ethiopia ($0.9221) and Gabon ($1.008) respectively.

Petroleum product prices in Ghana have been declining, though only marginally, at fuel stations.

This modest reduction is largely attributed to the recent stability of the Ghana cedi and a drop in global crude oil prices, with Brent crude currently trading at $65.89 per barrel on the international market.

Looking ahead, the Chamber of Oil Marketing Companies (COMAC) has confirmed that fuel prices are expected to decrease further at the pumps beginning Friday, May 16, 2025.

This anticipated adjustment is expected to provide some relief for consumers and businesses, even as calls grow for more significant reductions in line with recent economic improvements.