Shell’s Fuel Prices Hit Two-Year Low
Fuel prices at Shell outlets have dropped to their lowest levels in over two years, with petrol now retailing at GH¢11.98 per litre and diesel at GH¢12.85, according to data from CediRates.
The significant drop in prices comes on the back of two key developments: the sustained appreciation of the Cedi against the US dollar, and the government’s indefinite suspension of the proposed GH¢1 levy per litre on fuel, which was to be introduced under the Energy Sector Levies (Amendment) Act, 2025 (Act 1141).
The Chamber of Oil Marketing Companies (COMAC) says this marks the seventh consecutive reduction in fuel prices since February 16 this year, driven largely by forex gains that have cushioned the domestic market against global price shocks.
“The appreciation of the local currency continues to offer relief at the pumps, helping absorb the impact of rising international crude prices,” noted COMAC in its latest pricing outlook.
For the June 16–30, 2025 pricing window, COMAC forecasts a further decline in pump prices. Petrol is expected to sell at GH¢11.77 per litre, representing a drop of between 1.1% and 2.25% compared to prices recorded on June 1, 2025. Diesel prices are also projected to fall sharply to GH¢12.13 per litre, marking a 4.3% reduction—the most significant decline in recent months.
Prices for Liquefied Petroleum Gas (LPG) are also set to decline. A kilogramme of LPG is expected to retail at GH¢13.30, a 3.2% decrease.
The sustained appreciation of the Cedi has been instrumental in keeping fuel prices stable, despite volatility in global oil markets. Brent crude is currently trading at US$75 per barrel, buoyed by geopolitical tensions in the Middle East, particularly a renewed conflict between Israel and Iran.
Market analysts believe that continued cedi stability, combined with prudent policy decisions on levies and taxes, will be critical in maintaining low fuel prices in the coming months.
