Ghana’s overall petroleum consumption saw an upward trajectory in 2024, according to the Ghana Chamber of Oil Marketing Companies (COMAC) 2024 Annual Report.
The Report provided a comprehensive analysis of regional petroleum product consumption trends across Ghana, highlighting key shifts in energy use, economic activity, and regional development.
The COMAC report underscored critical insights into fuel consumption patterns, with implications for national energy policy, economic resilience, and regional growth disparities.
“Greater Accra maintained its position as the leading consumer, with fuel usage increasing from 1,786 million litres in 2023 to 1,848 million litres in 2024, reflecting a 3.47% growth.”
Chamber of Oil Marketing Companies (COMAC) 2024 Annual Report
This trend was attributed to the region’s high urbanization rate, expanding transport sector, and improved access to liquefied petroleum gas (LPG) infrastructure.
The COMAC report also noted a significant increase in diesel and petrol consumption across several regions, particularly in the Upper West Region, which experienced an unprecedented 333.96% surge, rising from 85 million litres in 2023 to 369 million litres in 2024.
This substantial growth suggested increased economic activity in the region, possibly driven by industrialization, agriculture, and improved infrastructure.
Despite the overall increase in petroleum product consumption, some regions experienced fluctuations, with Upper East and Northern Regions also showing remarkable growth.
The Upper East Region recorded a 72.76% increase, while the Northern Region saw a 37.93% rise, both indicating expanding economic activities in these areas.
Conversely, the Central Region was the only region to witness a decline, with consumption falling by 4.74% from 387 million litres in 2023 to 369 million litres in 2024.
Experts suggest that this drop could be linked to economic slowdowns, shifts in energy use, or decreased industrial activities.
Sectoral Breakdown: Diesel vs. Petrol Consumption
A closer look at the fuel types reveals interesting trends. Diesel consumption rose significantly in regions such as Western (25.22%), Northern (37.35%), and Upper East (74.47%), suggesting heightened industrial and transport activities.
Greater Accra and Ashanti, however, recorded minimal changes in diesel consumption, at 0.55% and 2.84%, respectively.
“Petrol consumption trends mirrored those of diesel, with the Upper West Region again leading with a staggering 279.34% increase. Western and Northern Regions followed with 28.65% and 29.27% growth, respectively.”
Chamber of Oil Marketing Companies (COMAC) 2024 Annual Report
The rapid increase in fuel consumption in the Upper West and Northern Regions signals potential industrialization and economic expansion. However, this also raises concerns about sustainability and the need for renewable energy transitions.
The sharp increase in fuel consumption presents both opportunities and challenges for Ghana’s energy sector. While rising fuel use suggests economic expansion and increased mobility, it also raises concerns over energy security, fuel price volatility, and environmental sustainability.
Government and policymakers must balance the growing demand for fossil fuels with a transition to cleaner energy sources. This aligns with Ghana’s commitment to reducing carbon emissions while maintaining economic growth.
Given the stark regional disparities in fuel consumption growth, the government needs to ensure equitable energy distribution and enhance energy efficiency programs.
Additionally, strengthening domestic fuel production and refining capacity could help mitigate dependence on fuel imports.
The 2024 COMAC Annual Report underscored significant shifts in fuel consumption, regional economic activity, and the energy landscape in Ghana.
With rising demand in the northern and western regions, policymakers must address energy accessibility, infrastructure expansion, and sustainability concerns.
By implementing strategic energy policies and investing in renewables, Ghana can strengthen its energy resilience while fostering long-term economic growth.
