Ghana ranked 20th cheapest country for petrol in Africa
Ghana has dropped seven places to rank as the 20th cheapest country for petrol in Africa, according to the latest data from GlobalPetrolPrices.com.
The average price of petrol in Ghana stood at $1.211 per litre in May 2025, marking a decline in global ranking from 48th in April 2024 to 77th.
This comes despite the relative stability of the cedi’s appreciation against the US dollar and other major currencies, and a downturn in international crude oil prices.
Meanwhile, Brent crude is currently trading at $65.89 per barrel reflecting softer global demand and a stable supply outlook.
According to the data, Libya remains the country with the lowest petrol prices globally, at just $0.027 per litre.
Angola ($0.327) and Algeria ($0.344) follow closely behind, with Egypt ($0.377), Nigeria ($0.537), and Sudan ($0.700) also offering cheaper fuel than Ghana.
Other African nations ahead of Ghana in affordability include Tunisia, Liberia, Ethiopia, and Gabon.
While local fuel prices have seen moderate declines in recent weeks, the sharp drop in Ghana’s ranking suggests persistent pricing rigidities or structural inefficiencies in the domestic fuel market.
However, the Chief Executive of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, has confirmed that fuel prices are set to decline further from Friday, May 16, 2025 citing favorable exchange rate movements and falling benchmark prices.
SP/SA
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