Regan Brown
As of May 2025, Ghana is the 20th cheapest country for petrol in Africa, with an average price of $1.211 per litre. This is a drop from its previous position of 13th in April 2024. In Ghana cedi, the price of gasoline was 15.38 per liter as of December 30, 2024. Ghana Oil Company Limited (GOIL) listed the price of SUPER XP as GHC 12.88 in July 2025. The drop in ranking despite the Ghanaian cedi's appreciation against major currencies points to underlying structural inefficiencies or pricing rigidities in the domestic fuel market.
| Characteristics | Values |
|---|---|
| Average petrol price in Ghana | $1.211 per litre |
| Petrol price as of December 30, 2024 | 15.38 Ghanaian cedis (GHS) per litre |
| Petrol price as of July 16, 2025 | SUPER XP - GHC 12.88, DIESEL XP - GHC 14.38, SUPER XP 95 - GHC 15.77 |
| Ghana's rank in Africa for cheapest petrol | 20th |
| Ghana's rank in the world for cheapest petrol | 77th |
Explore related products
What You'll Learn
Ghana's fuel price in May 2025: $1.211 per litre
Note: The following paragraphs are fictional and based on the provided prompt.
As of May 2025, the price of fuel in Ghana stood at $1.211 per litre, a significant change from the previous month's price of $1.05 per litre. This price equates to 15.38 Ghanaian cedis per litre, a 0.04 cedi increase from December 2024.
The fluctuation in fuel prices in Ghana is influenced by various factors, including global oil prices, currency exchange rates, and local market dynamics. The increase in fuel prices can have a notable impact on consumers' budgets and the overall economy.
In recent times, Ghana has experienced fluctuations in fuel consumption. For instance, in November 2023, the country consumed approximately 155,000 metric tons of gasoline, marking an increase compared to the previous month. However, it is essential to consider that fuel consumption can vary due to seasonal demands, economic conditions, and other factors.
Ghana's fuel market is served by prominent companies such as Ghana Oil Company Limited (GOIL) and Total Petroleum Ghana. These companies play a significant role in the industry, generating substantial revenues. GOIL, for example, accumulated sales revenue of 12.44 billion Ghanaian cedis in 2022, highlighting its prominence in the local market.
The government of Ghana closely monitors fuel pricing and implements measures to ensure stability and fairness in the market. The country's fuel sector is a critical component of the economy, impacting various industries and the daily lives of citizens. With the dynamic nature of the fuel industry, ongoing adjustments, and external factors influencing prices, Ghanaians must stay informed about price changes and their potential implications.
Fuel Requirements for Rocket Takeoff: How Much is Needed?
You may want to see also
Explore related products
Ghana Oil Company fuel prices as of July 2025
As of July 16, 2025, the Ghana Oil Company's fuel prices are as follows:
- SUPER XP: GHC 12.88
- DIESEL XP: GHC 14.38
- SUPER XP 95: GHC 15.77
These prices are effective as of Wednesday, July 16, 2025, and may be subject to change thereafter.
The Ghana Oil Company Limited (GOIL) is one of the leading petroleum product marketing companies in Ghana. As of December 30, 2024, the price of gasoline in Ghana was 15.38 Ghanaian cedis (GHS) per liter, which was equivalent to 1.05 US dollars. The price of gasoline in Ghana as of July 28, 2025, is GHS 15.77 per liter or USD 1.50 per liter.
Fuel Save Pro: Is It Worth the Cost?
You may want to see also
Explore related products
Ghana's ranking as 20th cheapest country for fuel in Africa
Ghana has dropped seven places to rank as the 20th cheapest country for fuel in Africa as of May 2025. The average price of petrol in Ghana stood at $1.211 per litre, translating to 15.38 Ghanaian cedis per litre. This decline in ranking comes despite the Ghanaian cedi's appreciation against major international currencies and a downturn in global crude oil prices.
In March 2024, Ghana was ranked the 10th cheapest fuel provider in Africa, with prices ranging from GH¢12.02 to GH¢13.29 per litre for petrol and GH¢13.21 to GH¢14.60 per litre for diesel. This is cheaper than the global average of $1.30 per litre.
Affordable fuel prices are beneficial for economies, particularly those with lower income levels. Lower gasoline prices positively impact consumers and businesses by increasing their purchasing power, which translates to a more dynamic economy. They also influence market trends and consumer behaviour, as affordable fuel helps maintain essential operations across various sectors.
However, despite the benefits of affordable fuel, Ghana's significant drop in the affordability rankings suggests underlying structural inefficiencies or pricing rigidities in the domestic fuel market. Other African nations that offer cheaper fuel than Ghana include Libya ($0.027 per litre), Angola ($0.327), Algeria ($0.344), Egypt ($0.377), Nigeria ($0.537), and Sudan ($0.700).
F-15 Fuel Capacity: How Much Can It Hold?
You may want to see also
Explore related products
The Ghanaian Cedi's appreciation against major currencies
As of December 30, 2024, the price of gasoline in Ghana was 15.38 Ghanaian cedis (GHS) per liter, which corresponds to 1.05 US dollars.
The Ghanaian Cedis appreciation against major currencies
The Ghanaian cedi has demonstrated a notable turnaround, shifting from one of the worst-performing currencies in Sub-Saharan Africa in 2024 to the best-performing currency globally in 2025, with a nearly 16% appreciation against the US dollar. According to the latest data by the Bank of Ghana, the cedi has appreciated by 24.1% against the US dollar, 16.2% against the British pound, and 14.1% against the euro. This positive momentum has largely continued into 2025, reflecting renewed market confidence, stronger macroeconomic fundamentals, and ongoing policy reforms.
The cedi's appreciation is driven by a combination of factors, including improved gold reserves, sound economic policies, and global economic dynamics such as the weakening US dollar. The appreciation is not limited to the dollar, as the cedi is also gaining strength against the pound, euro, and other global currencies. This broader trend suggests that the appreciation is domestically driven, influenced by internal factors such as improved trade balances, reduced import demand, and cautious fiscal behavior.
While the cedi's appreciation has sparked public commentary and optimism, some economists and analysts caution against attributing the gains solely to government action or policy changes. They argue that the appreciation may be more closely linked to passive fiscal restraint, delayed government action, and reduced spending, which decreases the demand for foreign currency and strengthens the cedi's value.
The sustained appreciation of the cedi has positive implications for Ghana's economy, including increased investor confidence and enhanced macroeconomic stability. However, it is important to approach the gains with measured optimism, as the currency's performance is subject to the dynamic interplay of various economic and market factors.
Shell Fuel Prices: How Much Does it Cost?
You may want to see also
Explore related products
Expected further decline in Ghana's fuel prices
As of May 2025, the average pump price of petrol in Ghana was $1.211 per litre, with the country ranking as the 20th cheapest for fuel costs in Africa. This price has dropped further since then, with fuel prices in Ghana expected to decline by between five and nine per cent in the next pricing window, according to a forecast by the Africa Sustainable Energy Centre (ASEC).
The projected drop is largely due to the strengthening of the Ghanaian cedi against the US dollar, with the cedi appreciating by nearly 40% against the dollar. This has had a more direct influence on local fuel prices than the fall in international crude oil prices, which have dropped from around $85 per barrel in January to approximately $64 per barrel currently.
Ghana's fuel pricing mechanism operates on a biweekly basis, with adjustments reflecting changes in global oil prices, exchange rates, and import costs. The upcoming window is likely to see reduced prices at the pump, with petrol expected to sell between GHS 12.00 and GHS 12.60 per litre, and diesel projected to retail between GHS 12.60 and GHS 13.20 per litre.
The projected reduction, though temporary, is expected to provide some relief to households and businesses amid ongoing economic recovery efforts. However, the recent drop in fuel prices has also raised questions about underlying structural inefficiencies or pricing rigidities in the domestic fuel market.
Diesel Truck Fuel Capacity: How Much Can It Hold?
You may want to see also
Frequently asked questions
As of May 2025, the average price of petrol in Ghana is $1.211 per litre, which equates to 7.73 Ghanaian cedis per litre.
On 30 December 2024, the price of gasoline in Ghana was 15.38 Ghanaian cedis per litre.
As of 16 July 2025, diesel XP was priced at 14.38 Ghanaian cedis.
