April Fuel Prices to See Modest Increase, But LPG Costs Set to Fall – COMAC

The Chamber of Oil Marketing Companies (COMAC) has announced that petrol and diesel prices will rise by 2% and 1.1%, respectively, while liquefied petroleum gas (LPG) prices will drop by 0.3% in the first pricing window of April 2025.

The rise is mainly due to higher global crude oil prices, with Brent crude showing a slight increase from $71.94 per barrel to $72.57 per barrel, a 0.86% gain. COMAC noted that this uptick comes as tightening global supply counterbalances worries about a potential drop in energy demand caused by ongoing trade tensions.

Despite the rise in crude oil prices, international product prices showed mixed movements. Petrol prices rose by 4.15%, while diesel and LPG saw declines of 1.87% and 0.51%, respectively. This divergence in pricing trends reflects fluctuations in global supply chains and refining costs.

Nonetheless, the cedi showed signs of recovery in late March 2025, appreciating by 0.07% against the US dollar. While the cedi experienced a 5.3% depreciation in the first quarter of the year, it regained 0.31% in value on the international market, bolstered by central bank interventions aimed at stabilizing the exchange rate.

However, the latest adjustment follows three consecutive fuel price reductions in March 2025, providing some relief to consumers. Importantly, with the modest rise in petrol and diesel prices, transport costs may see a slight increase in the coming weeks.

The Chamber urged transport operators to prepare for the slight rise in fuel costs.

Source: The High Street Business