Ghanaian consumers are facing uncertain fuel prices as global oil costs decline, but the weakening Cedi has wiped out any potential relief at the pumps.
Despite a steady drop in Brent crude and refined petroleum prices on the international market, the Ghanaian Cedi’s 2.18% depreciation against the U.S. Dollar has kept fuel prices volatile.
According to the Institute for Energy Security (IES), fuel prices surged for the third time in 2025 during the first pricing window of February.
Gasoil increased by GH₵0.45 per litre, while Gasoline rose by GH₵0.24 per litre, bringing national average prices to GH₵15.61 for Gasoline and GH₵15.65 for Gasoil.
Liquefied Petroleum Gas (LPG) remained costly at GH₵18.79 per kilogram.
Consumers continue to seek the most affordable options, with Benab, Star Oil, and Zen Petroleum offering the lowest prices.
On the global market, Brent crude fell by 5.65% to $74.74 per barrel, with Gasoil, Gasoline, and LPG prices also declining by 4.50%, 1.26%, and 0.22%, respectively.
However, while such drops usually lead to lower fuel costs locally, the Cedi’s depreciation is eroding these benefits.
Looking ahead to the second pricing window of February, the IES predicts mixed market reactions.
While a reduction in liquid fuel prices is possible due to global trends, the Cedi’s weakness may prevent a full decline. Meanwhile, LPG prices are expected to remain unchanged.
For Ghanaian motorists and households, hopes for relief at the pumps remain uncertain as currency instability continues to drive fuel prices.
