Fuel prices in Ghana have seen a decline in the fifth consecutive time since February 2025.
However, conversations with commercial passengers at the Ashaiman transport terminal and other key urban locations with the Vaultz News revealed a mix of relief, skepticism, and frustration – especially over the fact that transport fares remain unchanged despite lower fuel costs.
Afia Mensima, a market trader who commutes daily from Ashaiman to Makola said, “They say fuel prices are going down, but we’re still paying the same fare.”
“If prices go up, they [drivers] increase the fare the next day.
“But now that fuel is cheaper, they say it’s not enough to reduce fares. It’s not fair.”
Afia Mensima, a market trader who commutes daily from Ashaiman to Makola
Others echoed the same sentiment, emphasizing the disproportionate impact rising transport costs have on low-income earners and some workers.
“They always blame fuel prices when increasing fares, but now that fuel is cheaper, they say it’s because of spare parts and insurance. That’s not right.”
Eric Amponsah, Governement Worker
Some passengers, however, showed understanding, acknowledging that transport operators face other cost pressures.
“To be fair, drivers also deal with expensive parts and taxes. But even a small fare reduction would help us a lot.”
Esi Boadu, a trader who travels weekly to Tema
The steady decline in fuel prices could ease the cost of living in Ghana, as transportation costs play a significant role in inflationary pressures. Lower fuel prices may reduce operational costs for businesses, potentially leading to lower prices for goods and services.
“Fuel price reduction is good, but it’s not the only thing we consider. Prices of spare parts, insurance, and maintenance costs are all going up.”
Kofi Ntiako, A Commercial driver who operates on the Tema–Accra route.
This sentiment aligns with the position of the Ghana Private Road Transport Union (GPRTU), which insists that fare reductions can only be considered when fuel prices drop significantly below GH₵12 per litre.
Fuel Prices Set to Drop
The latest market outlook covering the second pricing window from April 16 to April 30, 2025, indicated a downward adjustment in fuel prices at the pumps.
The decline in petroleum product prices is driven by falling crude oil prices on the international market and the slight appreciation of the Ghanaian cedi.
According to the latest market report, petrol prices are expected to decrease by 1.5%, while diesel and LPG prices will fall by 0.3% each.
“These downward adjustments are in line with the decrease in petroleum product prices on the international market and the cedi’s recent gains against the U.S. dollar.”
COMAC Petroleum Pricing Outlook
This projection, which guides the price-setting of over 100 Oil Marketing Companies (OMCs) in Ghana, reflects the broader downward trend in international petroleum prices and a mild appreciation of the Ghanaian cedi.
The report highlighted that the cost of crude oil fell from $72.57 per barrel to $70.82, representing a 2.42% decrease.
“Crude has been dragged down in April as the trade war, especially the confrontation between the U.S. and China, stokes fears of a global recession that would hurt energy demand.”
COMAC Petroleum Pricing Outlook
Adding to the price drop is a modest appreciation of the Ghanaian cedi against the U.S. dollar. The exchange rate moved from 15.60 GHS/USD on March 27th to 15.59 GHS/USD by April 10th, representing a 0.04% appreciation.
Though the gain appears slight, the forex movement plays a critical role in pricing petroleum products in Ghana, where imports are denominated in dollars.
Looking ahead, market watchers anticipate continued volatility in global oil prices due to geopolitical tensions, fluctuations in demand projections, and ongoing trade policy shifts.
For now, however, consumers can look forward to modest relief at the pumps, even if broader affordability concerns linger.
Stakeholders are also urging the government to consider dialogue with transport unions to reflect fuel trends in fare adjustments, ensuring fair outcomes for both operators and passengers.
The recurring sentiment among passengers is clear: they welcome the drop in fuel prices, but want to see real, tangible benefits, particularly in lower transport fares, to ease the broader cost-of-living burden.
READ ALSO: Youth Drive United Nations’ Push For Sustainable Global Future
