Fuel prices in Ghana are set to decrease starting June 16, 2025, as the government delays the GH¢1 Energy Sector Levy, offering relief to consumers. The Chamber of Oil Marketing Companies (COMC) announced that this will be the seventh consecutive fuel price reduction in 2025, driven by the levy’s postponement and the cedi’s recent strength.
The COMC’s Pricing Outlook projects petrol prices to fall by 1.1% to 2.25%, with a litre expected to cost GH¢11.77. Diesel prices will see a sharper decline of up to 4.3%, bringing the price per litre to GH¢12.13. Liquefied Petroleum Gas (LPG) is forecasted to drop by 3.2%, with a kilogramme retailing at GH¢13.30.
Initially, the COMC had warned of potential price hikes due to the proposed D-Levy. However, the government postponed its implementation amid heightened global tensions, particularly the Israel-Iran conflict, which has disrupted oil markets. Brent crude oil is currently trading at approximately US$75 per barrel, reflecting the impact of these tensions.
While the cedi’s strong performance has supported the price reductions, the COMC cautioned that rising global oil prices could reverse these gains. If crude oil prices continue to climb, consumers may face higher fuel costs in the July pricing window.