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Consumers in Ghana can expect further relief at the fuel pumps as petroleum prices record a marginal decline for the third consecutive pricing window.
Total Energies has led the latest adjustment, reducing petrol and diesel prices from GHS15.79 per liter in early March to GHS15.49 per liter in the second pricing window of the month. This follows a downward trend that began in late February.
The drop in fuel prices is being attributed to declining crude oil prices on the international market, coupled with relative stability in the Ghanaian cedi against the US dollar. According to data from the Chamber of Oil Marketing Companies (COMC), crude oil prices have fallen from $75.49 per barrel to $71.94 per barrel, reflecting a 4.16% decrease.
Market analysts suggest this trend is driven by concerns over global economic growth, exacerbated by escalating trade tensions under US President Donald Trump’s administration. The uncertain outlook has led to a bearish sentiment in global oil demand.
