Ghana drops to 13th in Africa with lowest fuel price

Ghana dropped three places to the 13^th position in Africa with the lowest fuel price.

According to GlobalPetrolPrices.com, Ghana’s average petrol price of $1.051 per litre in January 2025 compared to about $0.985 per litre in December 2024 ranks it 53rd globally from the previous 43rd.

Libya retained the number one position in Africa with the lowest fuel price of $0.030 per litre on the African continent but 2nd globally.

Angola and Egypt came 2nd and 3rd respectively with fuel prices of $0.328 and $0.337 per litre.

From 4th, 5th, 6th, 7th, 8th and 9th were Algeria ($0.338), Sudan ($0.700) Nigeria ($0.764), Tunisa ($0.782), Ethiopia ($0.804) and Liberia ($0.843) respectively.

Meanwhile, prices of petroleum product are expected to go up marginally at the pumps from Friday, January 17, 2025.

The Chief Executive of the Chamber of Oil Marketing Companies, Dr. Riverson Oppong told Joy Business that the prices of global crude and the recent cedi depreciation are the main drivers for the projected price increase.

According to him, the drivers were stable until some changes were noticed in the global price of crude and the strength of the local currency.

Ideally, things were going well, as we all know, but plant prices are rising. Within just 24 hours, we’ve observed a 0.33% increase in global Free-On-Board plant prices. The exchange rate remains unstable”, he alluded.

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