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BusinessGhana holds 10th position in Africa as country with affordable fuel prices

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Ghana holds 10th position in Africa as country with affordable fuel prices

GlobalPetrolPrices.com’s recent analysis positions Ghana as the 10th African country with the most economical fuel prices as of March 2024.

Globally, Ghana secures the 39th spot for its notably affordable fuel rates.

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Currently, petrol prices in Ghana fluctuate between GH¢12.02 and GH¢13.29 per liter, while diesel ranges from GH¢13.21 to GH¢14.60 per liter, showing a slight uptick from previous levels.

With an average fuel price of GH¢13.03, Ghana’s rates remain below the global average of $1.30 per liter, offering significant advantages for both consumers and businesses. This advantageous pricing fosters greater purchasing power and bolsters seamless economic activities.

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The report underscores the importance of maintaining low fuel costs, particularly in economies with lower income brackets, acknowledging their manifold effects on global economic landscapes.

While Ghana’s status as the 10th most affordable fuel provider in Africa brings numerous benefits, it also poses challenges for the petroleum sector.

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The report recommends implementing strategic measures centered on efficiency, tax diversification, and infrastructure enhancements to address potential drawbacks and capitalize on this ranking to cultivate a mutually beneficial environment for all stakeholders.

Meanwhile, several nations offer petroleum products at rates lower than the global average, highlighting the crucial role of affordable fuel prices in driving economic prosperity and sustaining essential operations across diverse sectors.

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