Fuel Prices Expected to Drop 5-9% in June as Cedi Strenghthens

Accra, Ghana - 02 June, 2025 - Ghana is likely to experience a 5-9% reduction in fuel prices during the first pricing window of June, providing some relief to consumers amid ongoing economic pressures.

According to the Africa Sustainable Energy Centre (ASEC), the anticipated price drop is largely attributed to the recent strengthening of the Ghanaian cedi against the US dollar.

ASEC projects that petrol prices will range between GHS 12.00 and GHS 12.60 per litre, while diesel prices will fall between GHS 12.60 and GHS 13.20 per litre. The biweekly fuel pricing mechanism in Ghana reflects changes in global oil prices, exchange rates, and import costs.

The recent dip in global crude oil prices, from around $85 per barrel in January to approximately $64 currently, coupled with the cedi's appreciation, is expected to drive down local pump prices.

The reduction in fuel prices is expected to ease transportation costs and overall inflation, offering short-term relief for households and businesses.

However, ASEC cautions that the decline in oil prices could put pressure on government revenue, as Ghana relies heavily on international oil prices to support foreign exchange inflows and budgetary funding.

Looking ahead, ASEC projects that global crude oil prices will remain in the $62-$65 per barrel range, driven by higher output from OPEC+ producers and softening demand from major economies. The think tank urges the government to balance consumer relief with long-term strategies for energy security and fiscal resilience, while continuing to monitor market trends and provide evidence-based insights to guide policy.

Source: Lead News Online