Fuel prices will likely drop marginally at the pumps from April 16

The Prices of fuel  will likely drop marginally at the pumps from April 16, 2025. This is based on the price forecast report that influence price determinations of Oil Marketing Companies in the country.

The price of petrol will likely drop marginally by 1.5 percent, which will lead to a litre selling for GH₵14.88. The Price of diesel is also likely to drop marginally by 0.3 percent, selling at GH₵15.50.

A kilogram of Liquefied Petroleum Gas (LPG) will likely drop marginally by 0.3 percent, selling for GH₵17.45. If the over 100 Oil Marketing Companies decrease their prices at the pumps as expected, this will be a fifth successive decline in prices of petroleum products since February 2025.

The expected decline has been impacted by the regular reduction in price of crude oil on the international market in the last couple of weeks.

The price of crude oil declined from US$72 a barrel a few weeks ago. It has a current price of around US$64 a barrel.

On top of that, prices of finished petroleum products have been declining on the international market. Diesel declined by 3.72 percent and LPG plummeted also declined sharply to 9.61 percent.

The current developments on the market should have resulted in a dialogue and negotiations between government and transport operators for some transportation cost reductions.

However, officials of the Ghana Private Road Transport Union (GPRTU)  made it clear on JOYBUSINESS that, a reduction in fuel prices contributes to, but it’s not the only influence on transport fares. According to them, insurance cost and prices of the spare parts are the significant contributing factor.

According to the Ghana Private Road Transport Union (GPRTU), the union expects fuel prices to drop to GH₵12 per litre before prices at the pump could reduce.