Consumers of petroleum products can expect a slight relief at the pumps starting April 16, 2025, as prices are projected to decline for the fifth consecutive time, according to the latest pricing outlook report influencing Oil Marketing Companies (OMCs).
Petrol is expected to drop by 1.5%, selling at GH₵14.88 per litre, while diesel will see a marginal dip of 0.3%, pegging a litre at GH₵15.50. The price of LPG is also forecasted to decrease by 0.3%, with a kilogram retailing at GH₵17.45.
This downward trend in pump prices has been ongoing since February 2025, marking a consistent decline over the last few months.
The price drops are largely driven by developments on the international oil market. Crude oil prices have fallen from US$72 to about US$64 per barrel, helping to ease local pricing pressures.
In addition to the fall in crude oil, finished petroleum products have also recorded significant reductions internationally. Diesel prices dropped by 3.72%, while LPG saw a sharp 9.61% decline, all contributing to the expected relief at local pumps.
Despite these positive signals, a corresponding drop in transport fares remains uncertain. The Ghana Private Road Transport Union (GPRTU) maintains that fuel price reductions alone are not enough to warrant fare adjustments. They cite high costs of vehicle insurance and spare parts as continuing pressures on their operations.
According to GPRTU officials, fare reviews will only be considered if petrol prices fall further—to around GH₵12 per litre.
The sustained decline in fuel prices is expected to gradually ease the cost of living, especially for households and businesses heavily dependent on transportation. Economists believe that if the trend continues, it could bolster efforts to contain inflation and improve economic stability.
