Ghana has experienced a dramatic drop in its ranking among African countries with the lowest fuel prices, falling to 20th position from 13th position despite recent stability in the Ghanaian cedi against major foreign currencies.
According to GlobalPetrolPrices.com, Ghana’s average petrol price of $1.211 per liter in May 2025 now ranks it 77th globally, down significantly from 48th in April 2024. The reason for this sharp decline remains unclear given the cedi’s improving performance.
Libya continues to dominate the rankings with the continent’s lowest fuel price at $0.027 per liter, followed by Angola ($0.327) and Algeria ($0.344). Other countries with lower fuel prices than Ghana include Egypt ($0.377), Nigeria ($0.537), Sudan ($0.700), and Tunisia ($0.835).
Despite this setback, the Chamber of Oil Marketing Company (COMAC) has confirmed to Joy Business that petroleum product prices will decrease at the pumps from Friday, May 16, 2025. COMAC Chief Executive Dr. Riverson Oppong attributed this anticipated reduction to favorable foreign exchange rates and falling benchmark prices, with average decreases of 13% expected.
Source: myjoyonline.com
