Fuel prices drop for third consecutive time

Fuel prices in Ghana have recorded a marginal decline for the third consecutive time, bringing some relief to consumers. This follows the start of the second pricing window for March, with Total Energies leading the adjustment, reducing petrol and diesel prices from GHS15.79 to GHS15.49 per liter.

The reductions, which began in February, are attributed to falling global crude oil prices and the relative stability of the Ghanaian cedi. The Chamber of Oil Marketing Companies (COMC) had predicted this drop due to a 4.16% decline in crude oil prices, from $75.49 to $71.94 per barrel.

This decrease is linked to concerns over trade tensions under US President Donald Trump, which have created uncertainty in global economic growth and oil demand.