Motorists and consumers in Ghana can anticipate a welcome reduction in fuel prices at the pumps starting June 16, 2025. This positive development follows the government’s decision to postpone the implementation of the GH¢1 Energy Sector Levy, providing immediate relief at a time of fluctuating global oil markets.
According to the latest Pricing Outlook released by the Chamber of Oil Marketing Companies, the price of a litre of petrol is projected to decrease, likely settling around GH¢11.77. This represents a drop of between 1.1% and 2.25% compared to the prices observed in the preceding pricing window. Diesel users will see an even more significant reduction, with prices expected to go down by as much as 4.3%, pushing the cost per litre to approximately GH¢12.13. Liquefied Petroleum Gas (LPG) is also included in this wave of price cuts, anticipated to decline by 3.2%, resulting in a kilogramme being sold at roughly GH¢13.30.
This upcoming reduction marks the seventh consecutive time that fuel prices have dropped in Ghana this year, indicating a sustained period of relief for consumers. The Chamber had initially forecasted a potential increase in fuel prices, attributing it to the expected implementation of the D-Levy. However, the government’s decision to postpone this levy, reportedly influenced by the ongoing Israel-Iran conflict, has altered the pricing outlook.
Furthermore, the recent impressive performance and appreciation of the Ghanaian cedi against major international currencies have played a significant role in enabling these price reductions. Despite these local positive factors, rising global tensions have led to an increase in international oil prices, with a barrel of Brent crude oil currently trading around US$75. Reports suggest that if this upward trend in crude oil prices continues, Ghanaian consumers could face higher costs at the pumps in the next pricing window scheduled for July.
Source: http://thepressradio.com
