Ghanaian consumers are preparing for mixed outcomes at fuel stations as global oil prices decline, but the local currency’s depreciation threatens to counteract potential relief.
Despite a significant drop in Brent crude and refined petroleum product prices on the international market, the Ghanaian Cedi’s 2.18% fall against the U.S. Dollar is causing fuel prices to remain unstable.
According to the Institute for Energy Security (IES), fuel prices in Ghana increased for the third time in 2025 during the first pricing window of February. Gasoil rose by GH₵0.45 per litre, while Gasoline increased by GH₵0.24 per litre, raising national averages to GH₵15.61 for Gasoline and GH₵15.65 for Gasoil.
Liquefied Petroleum Gas (LPG) remains costly at GH₵18.79 per kilogram, with consumers turning to the most affordable suppliers like Benab, Star Oil, and Zen Petroleum.
Globally, Brent crude fell by 5.65%, closing at $74.74 per barrel, while refined products also saw price reductions—Gasoil by 4.50%, Gasoline by 1.26%, and LPG by 0.22%. However, the Cedi’s depreciation is undermining these global price drops, the IES noted.
As the second pricing window of February approaches, the IES predicts continued volatility, with potential price decreases in liquid fuels but stable LPG prices. For Ghanaian motorists and households, uncertainty at the pumps persists due to the ongoing depreciation of the Cedi.
