Fuel prices in Ghana have seen a decline for the first time in 2025, following a series of price increases earlier this year. Oil Marketing Companies (OMCs) have begun adjusting prices downward with the start of the second pricing window of February. This shift comes after a period of consecutive hikes in fuel prices since January. Total Energies took the lead by reducing both petrol and diesel prices to GH¢15.99 per litre, a decrease from GH¢16.15 in the previous pricing window.
Shell also joined the trend of price reduction, lowering diesel prices to GH¢15.99 per litre from GH¢16.09. Additionally, the price of petrol saw a decrease, dropping from GH¢16.23 to GH¢15.89 per litre. This marks a significant change in the fuel price landscape for the country after weeks of rising costs.
The reduction in fuel prices is attributed to a drop in crude oil prices on the international market, coupled with other economic factors that influence local fuel pricing. The decline in crude oil prices has offered some relief to consumers who have faced rising fuel costs over the past month.
Industry analysts predict that the decrease in fuel prices may help stabilize the market, offering consumers some financial respite. However, they also caution that fluctuations in global oil prices could lead to further changes in the coming months.
SOURCE: CITI NEWSROOM