As of December 04, 2023, the price of gasoline in Ghana stood at 12.98 Ghanaian cedis (GHS) per liter, corresponding to roughly 1.08 U.S. dollars. This decreased from the prices in May 2023, when it reached 13.21 cedis per liter, corresponding to around 1.1 U.S. dollars.
In 2020, 173 thousand barrels of crude oil per day were produced in Ghana. In 2021, at the company level, Ghana Oil Company Limited (GOIL), one of the leading petroleum product marketing companies in Ghana, accumulated revenue from sales amounting to 5.29 billion Ghanaian cedis (GHS), roughly 366 million U.S. dollars. Comparatively, in the same year, Total Petroleum Ghana, also a major petroleum company in the country, registered a revenue that amounted to 3.22 billion GHS, some 222 million U.S. dollars.
The Central African Republic (CAR), Senegal and Seychelles have the most expensive petrol in Africa. A litre of petrol in CAR retails for $1.852, while in Senegal it is $1.667.
COPEC explained that the development is due to increases in the international prices of crude and petroleum products as well as the loss in value of the Ghana cedi over the period against the Unites States greenback, the dollar.
Three key factors drive petroleum products prices in Ghana. First is the import parity price of the product. The second is the foreign exchange rate. The third is taxes and margins.
In 2016, price for gasoline for Ghana was 0.92 US dollars/liter. Though Ghana price for gasoline fluctuated substantially in recent years, it tended to increase through 1998 - 2016 period ending at 0.92 US dollars/liter in 2016.
The National Petroleum Authority was established by an Act of Parliament (NPA Act 2005, ACT 691) to regulate the petroleum downstream industry in Ghana. As a Regulator, the Authority ensures that the industry remains efficient, profitable, fair, and at the same time, ensures that consumers receive value for money.
Ghana gas has played a significant role in industrialization in Ghana. Ghana gas produces natural gas and gas based resources for domestic, commercial and industrial use. Ghana gas has played a significant role in Ghana's economy by saving Ghana millions of cedis and contributing to country's power generation.
As of April 08, 2024, the price of gasoline in Ghana stood at 14.15 Ghanaian cedis (GHS) per liter, corresponding to roughly 1.06 U.S. dollars. This represented an increase of 0.66 cedis from the preceding week.
As of June 2023, nearly 135 thousand metric tons of diesel were consumed in Ghana. This represented a decrease from around 161 metric tons in the previous month. Overall, a total of around 4.64 million metric tons of petroleum products were consumed in Ghana in 2021.
Here's a list of countries with the cheapest fuel globally.
Venezuela. In Venezuela, Gasoline costs just 0.1 Venezuelan Bolivar (VEF) or USD 0.004 per litre (for the first 120 litres, after which it is priced at $0.50/litre).
Introduction: My name is Dr. Pierre Goyette, I am a enchanting, powerful, jolly, rich, graceful, colorful, zany person who loves writing and wants to share my knowledge and understanding with you.
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