Ghana retained its 10th position with the lowest fuel price in Africa in September 2024, GlobalPetrolPrices.com has disclosed.

This is coming despite the continuous marginal reduction of fuel prices at the pumps.

Accordingly, Ghana’s average petrol price of $0.985 per litre ranks it 43rd globally from the previous 45th.

Libya retained the number one position in Africa with the lowest fuel price of $0.031 per litre on the African continent but 2nd globally.

Egypt and Angola came 2nd and 3rd respectively with fuel prices of $0.035 and $0.323 per litre.

From 4th, 5th, 6th, 7th, 8th and 9th were Algeria ($0.348), Nigeria ($0.470), Sudan ($0.700), Ethiopia ($0.723), Tunisia ($0.834) and Liberia ($0.889) respectively.

Fuel prices fall between 2% and 4%

The prices of petroleum products fell between 2% and 4% for petrol, diesel, and Liquefied Petroleum Gas, beginning tomorrow August 1, 2024.  

This follows the slowdown in the depreciation of the Ghana cedi during the second half of July 2024 and the favourable international market dynamics.

According to the Institute for Energy Security (IES), the price of petrol and deisel fell by 2.99% and 4.59% respectively and LPG by 1.10% in the second half of July 2024.

“Precisely, the price of gasoline [petrol] fell by 2.99%, gasoil [diesel] by 4.59%, and LPG by 1.10% in the second half of July 2024.  The Ghana cedi also recorded slowed depreciation (0.52%), the lowest since February 2024”.