Ghana among countries with highest fuel prices in Africa

Cycling to work may soon be, if not already, an imperative as the consistent jump in fuel prices in the country since September has secured Ghana a top spot on the list of African countries with very expensive fuel prices.

With an African average of GH¢ 5.978 ($0.98) per litre, fuel in Ghana is currently hovering around GH¢ 7 ($1.142) per litre.

Although Ghana’s price is still far lower than the global average of GH¢ 9.28 ($1.5), it comes 11^th on the table of 44 African countries with the most expensive fuel.

This is according to data analyzed from Global Petrol Prices, an open source platform that gathers data on the cost of different fuels across the world.

The data gathered from official government sources, regulatory agencies and petroleum companies show that on the continent of Africa, fuel is least expensive in Algeria, selling at GH¢ 1.22 ($0.20) per litre, while Zimbabwe holds the unenviable title as the country with the highest fuel price selling at GH¢9.76 ($1.6) per litre.

10 most expensive African countries for fuel

10 least expensive African countries for fuel

West Africa

In the West African sub-region, Ghana is only third behind Cape Verde and Senegal having the highest fuel price.

Understandably, Nigeria, an oil-producing country has the lowest price in the sub-region followed by Sierra Leone and Benin per the weekly data as of 15^th November, 2021.

Fuel prices have stayed a topical issue in Ghana due to its direct impact and cascading effect on almost every aspect of the Ghanaian economy.

With an active and fast expanding transport sector amidst a boom in motorized delivery services, the prices of goods and services are almost immediately affected by the slightest change in the price of fuel.

If the GPRTU’s negotiations are completed, transport fares are expected to increase, just as energy sector analysts expect the price of fuel at the various pumps to go up ahead of Christmas.