Ghana Ranks 10th In Africa For Affordable Fuel Prices, Driving Economic Empowerment

Written by Afua Amankwanowa

According to a recent report by GlobalPetrolPrices.com, Ghana has secured the 10th position in Africa for its competitively priced fuel, placing it at the 39th spot globally. Presently, petrol prices range from GH¢12.02 to GH¢13.29 per liter, with diesel priced between GH¢13.21 and GH¢14.60 per liter. Despite a marginal uptick from previous rates, fuel prices in Ghana remain relatively affordable.

The average fuel price in Ghana is GH¢13.03 per liter, below the global average of $1.30 per liter. This affordability plays a crucial role in empowering consumers and businesses, bolstering purchasing power, and nurturing a dynamic economy.

While low fuel prices offer benefits to consumers and certain sectors, they may pose challenges for the petroleum industry. GlobalPetrolPrices.com suggests strategic measures like efficiency enhancements, tax diversification, and infrastructure upgrades to address these challenges and create mutually beneficial outcomes. Affordable fuel prices are indispensable for sustaining vital operations across various sectors, influencing market dynamics, and shaping consumer behavior.

By maintaining its ranking and implementing strategic approaches, Ghana can continue to leverage its affordable fuel prices to propel economic growth and development.