Prices of petroleum products are expected to drop marginally at the pumps.
This follows predictions by the Chamber of Oil Marketing Companies that Petrol, diesel, and LPG prices at the pump are expected to decrease by 1.5%, 0.3%, and 0.3%, respectively, for the second pricing of April 2025.
This follows a marginal increment is the first pricing window of April 2025 due to cedi depreciation and increment In prices on the international market.
According to the chamber of Oil marketing Companies, Crude prices have come under pressure in April, weighed down by escalating trade tensions, particularly between the US and China which have intensified fears of a global recession that could dampen energy demand. OPEC+ plans
to raise output targets by 411 kb/d in May; however, the actual increase may fall short due to overproduction by some member countries. Global crude runs are projected to average 83.2 mb/d this year, with demand growth expectations dipping, reducing the anticipated annual increase by 230 kb/d to 340 kb/.
World oil supply rose by 590 kb/d to 103.6 mb/d in March, up 910 kb/d Window Outlook – 16th April 2025 For the pricing window, crude oil prices decreased by 2.42%.
Given this, international product prices showed a general decline. Petrol prices rose by 2.30%, while diesel experienced a decline of 3.72%, and LPG plummeted sharply by 9.61%
Product Prices on the International Market
With the dip in crude oil prices, international product prices generally showed a downward trend. Petrol prices rose by 2.30%, while diesel experienced a decline of 3.72%, and LPG plummeted sharply by 9.61%.
Cedi Performance
The Ghanaian cedi experienced a slight appreciation against the US dollar in early April 2025. As of March 27th, 2025, the forex rate was approximately 15.60 GHS per USD, and by April 10th, 2025, it had decreased to 15.59 GHS per USD, reflecting a marginal increase of 0.04% in the exchange rate.
Ex-pump price projection
Petrol, diesel and LPG prices at the pump are expected to decrease by 1.5%, 0.3 and 0.3%, respectively.
These downward adjustments at the pumps are in line with the decrease of petroleum product prices on the international oil market and cedi appreciation.
The chamber believes this downward adjustment of prices of petroleum products will help cushion transport operators and commuters.
Source: Ghana/Starrfm.com.gh/103.5FM/Prince Essien
