Ghana: GOIL Cuts Fuel Prices In Response To Cedi’s Appreciation

Ghana’s largest indigenous petroleum downstream oil marketing company, GOIL, has reduced its petrol and diesel prices effective June 2, 2025.

According to the price update, petrol (RON 91) is selling at Gh¢12.52 per liter, while petrol (RON 95) is sold at Gh¢14.34 per liter, and diesel is sold at Gh¢12.98 per liter.

During the last price review in May, GOIL sold petrol (RON 91) at Gh¢13.27 per liter, while petrol (RON 95) was sold at Gh¢15.27 per liter, and diesel was sold at Gh¢13.87 per liter. GOIL’s current fuel prices are lower than some of its competitors.

In Ghana, fuel prices are reviewed daily by Oil Marketing Companies (OMCs) based on fluctuations in key factors such as exchange rates, cost of refined petroleum products, and inflation. In contrast, fuel prices are reviewed monthly in other parts of Africa.

Since January 2025, Ghana’s currency, the cedi, has appreciated against foreign currencies, particularly the US dollar and pounds. As of last Friday, the interbank exchange rate for a dollar was Gh¢10.38.

On the international market, gasoline is sold at US$690.10 per metric ton, while gasoil is sold at US$617.13 per metric ton, and LPG is sold at US$464.93 per metric ton.

Crude oil prices have been relatively stable, with Brent selling at $64 per barrel and WTI sold at $60.03 per barrel as of Monday, May 30 2025.

Source: https://energynewsafrica.com