Fuel rankings: Ghana drops to 31st in Africa
Ghana has experienced a significant slide in its ranking among African countries with the lowest fuel prices, dropping 11 places to 31st position despite a recent drop in local fuel prices and a strong appreciation of the Ghanaian cedi.
According to data from GlobalPetrolPrices.com, which monitors fuel prices across the world, Ghana’s average petrol price stood at $1.4011 per litre in June 2025, placing it 109th globally and 31st in Africa. This marks a steep fall from May 2025, when the country was ranked 77th in the world with a lower petrol price of $1.211 per litre.
The sharp drop in ranking has sparked public concern, with many questioning the underlying reasons for the change. This comes at a time when the cedi has strengthened considerably—appreciating by nearly 40 percent against the US dollar in recent months—and fuel prices have dropped by about 9 percent at local pumps.
Fuel price reductions took effect on June 1, 2025, and are expected to last at least two weeks, according to the Chamber of Oil Marketing Companies (OMCs). The Chamber attributed the decrease to the cedi’s appreciation, which rose from GH¢13.99 to GH¢12.15 in the second half of May 2025—an improvement of approximately 13.11 percent.
Despite this, Ghana’s fuel price ranking continues to deteriorate, raising questions about whether hidden costs or taxes in the petroleum price build-up are offsetting the effects of a stronger currency.
Libya retained its spot as the country with the cheapest fuel globally, selling petrol at just $0.027 per litre. Angola and Algeria followed with $0.327 and $0.349 per litre respectively, ranking 4th and 6th in the world. Other African countries ranking above Ghana included Egypt ($0.382), Nigeria ($0.527), Sudan ($0.700), Tunisia ($0.846), Liberia ($0.871), Ethiopia ($0.8971), and the Democratic Republic of Congo ($1.029).
