Ghanaian consumers may soon enjoy much-needed relief at the pumps, as fuel prices are projected to fall from May 2025, following a sharp decline in Brent crude prices on the global market. According to Ben Nsiah, CEO of the Centre for Environmental Management and Sustainable Energy (CEMSE), petrol and diesel prices could drop to around GHC13 per litre, with Liquefied Petroleum Gas (LPG) expected to retail at approximately GHC14 per kilogram.
The forecast comes in the wake of a significant downturn in global crude prices. On April 6, 2025, Brent crude fell below US$60 per barrel for the first time since 2021, and continued its slide to under US$57 by April 7. The drop has been largely attributed to renewed trade tensions and fresh import tariffs imposed by U.S. President Donald Trump, creating ripples across global energy markets.
Speaking to a local news network, Nsiah stated that this downturn provides an opportunity for the government to ease the burden on consumers amid ongoing cost-of-living concerns.
“This is the lowest oil has fallen in five years, and if the Ghanaian cedi holds steady or strengthens, we could see petrol and diesel prices settle around GHC13 to GHC14 per litre by June,” he noted.
Beyond pump prices, Nsiah suggested that the sustained fall in oil prices could have broader economic benefits, including a marginal drop in inflation rates over the next few months. “Cheaper fuel lowers transportation and production costs across sectors. This could translate into lower prices for goods and services and, ultimately, a more favourable inflation outlook,” he explained.
The development aligns with broader government efforts to stabilise the energy sector and cushion consumers amid global volatility. As global crude trends continue to unfold, all eyes will be on how local pricing models respond—and whether the expected relief at the pumps will materialise in the coming pricing window..
