Ghana has been identified as one of Africa’s countries with the highest fuel prices. Fuel prices have remained a hot topic in Ghana due to their direct and indirect impact on almost every aspect of the Ghanaian economy.
With an active and rapidly expanding transportation sector and a boom in motorized delivery services, even minor changes in fuel prices have an immediate impact on the prices of goods and services.
Following a steady rise in fuel prices in the country, Ghana has climbed to the top of the list of African countries with the most expensive fuel since September.
Fuel in Ghana is currently hovering around GH7 ($1.142) per litre, compared to an African average of GH5.978 ($0.98) per litre.
Despite the fact that Ghana’s price is still significantly lower than the global average of GH 9.28 ($1.5), it ranks 11th out of 44 African countries with the highest fuel prices.
In the West African sub-region, Ghana is only third behind Cape Verde and Senegal having the highest fuel price.
Nigeria, an oil-producing country, has the lowest price in the subregion, according to weekly data as of November 15, 2021, followed by Sierra Leone and Benin.