Fuel prices to go down marginally at the pumps from April 16

Petroleum prices at the pumps are set to decline slightly starting April 16, 2025, according to a pricing outlook report that guides Oil Marketing Companies (OMCs) in Ghana.

Expected reductions:
- Petrol: down by 1.5%, selling at GH₵14.88 per litre

- Diesel: down by 0.3%, selling at GH₵15.50 per litre

- LPG: down by 0.3%, selling at GH₵17.45 per kilogram

This marks the fifth consecutive reduction in petroleum prices since February 2025, driven primarily by a drop in global crude oil prices.

Why the drop?

Crude oil prices have continued to fall globally—from around US$72 per barrel a few weeks ago to about US$64 currently. Additionally, the prices of refined petroleum products have also seen significant drops:

- Diesel: down by 3.72%

- LPG: down by 9.61%

What it means for Ghanaians

While the drop in fuel prices is expected to ease the cost of living, transport fares may not be adjusted immediately. The Ghana Private Road Transport Union (GPRTU) insists that fuel is not the only determinant. They cite rising costs of insurance and spare parts, and say fuel must fall to GH₵12 per litre before fare reductions can be considered.