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

Petroleum product prices are set to decrease slightly from April 16, 2025. This is based on a pricing outlook report for Oil Marketing Companies.

Price Changes

The price of petrol will drop by 1.5 percent. A litre will cost GH₵14.88.

Diesel prices will also fall by 0.3 percent, now at GH₵15.50.

Liquefied Petroleum Gas (LPG) will decrease by 0.3 percent, priced at GH₵17.45.

If over 100 Oil Marketing Companies lower their prices as expected, this marks the fifth consecutive decline since February 2025.

Reasons for Decline

This projected decline is due to falling crude oil prices internationally.

Crude oil was around US$72 a barrel but is now about US$64.

Additionally, finished petroleum product prices have decreased globally.

Diesel dropped by 3.72 percent and LPG fell sharply by 9.61 percent.

Implications of Price Changes

These market changes should prompt discussions between the government and transport operators about reducing fares.

However, officials from the Ghana Private Road Transport Union (GPRTU) say fuel prices aren't the only factor affecting transport fares.

They mention costs like insurance and spare parts as significant influences.

The GPRTU believes fuel must drop to GH₵12 per litre before fare reductions occur.

Overall, these developments could help lower the cost of living in Ghana as prices have been declining since February.