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Fuel prices in Ghana are set to decrease at the pumps beginning Monday, June 16, 2025. This follows the government’s decision to suspend the planned GH¢1.00 Energy Sector Levy, aimed at easing the financial burden on consumers.

According to the latest Pricing Outlook Report by the Chamber of Oil Marketing Companies (COMAC), this marks the seventh consecutive decline in fuel prices since February 16, 2025.

Petrol is expected to retail at approximately GH¢11.77 per litre, reflecting a reduction of 1.1% to 2.25% compared to prices on June 1, 2025. Diesel is anticipated to see a more substantial decrease of up to 4.3%, bringing prices down to around GH¢12.13 per litre. Liquefied Petroleum Gas (LPG) is also projected to drop by 3.2%, settling at about GH¢13.30 per kilogram.

COMAC attributes the downward trend primarily to the continued appreciation of the Ghanaian cedi against the US dollar, which has helped offset global price increases. Despite recent surges in international fuel prices, the stronger local currency has acted as a buffer for consumers.

Tensions in the Middle East, particularly the renewed conflict between Israel and Iran, have driven Brent crude oil prices to approximately $75 per barrel, the highest level in recent months. The escalation included Israeli strikes on Iranian nuclear facilities and a subsequent partial evacuation of the U.S. embassy in Iraq due to security concerns.

These developments led to a 4.41% increase in global crude oil prices, rising from $65.35 to $68.23 per barrel. Consequently, international market prices for petrol and diesel rose by 1.03% and 3.94%, respectively, while LPG prices declined by 1.79%.

COMAC’s analysis indicates that, had the government proceeded with implementing the GH¢1.00 Energy Sector Levy, consumers would have faced significant increases at the pump. Petrol prices would have risen by approximately 9.1%, and diesel by 8.25%. LPG would have seen a modest drop of 2.29%, as it is not directly affected by the levy.

While the current reduction provides temporary relief, COMAC warns that continued instability in global oil markets could lead to price increases from July 1, 2025, if crude oil prices continue to rise.

Source: The Ghana Report