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Ghana ranks 10th in Africa for most affordable fuel prices

Ghana has secured the 10th position in Africa for its affordable fuel prices, according to a recent report by GlobalPetrolPrices.com.

Ghana ranks 10th in Africa for most affordable fuel prices .

This ranking places Ghana at the 39th spot globally for the cheapest fuel costs.

Currently, petrol prices in Ghana range from GH¢12.02 to GH¢13.29 per liter, while diesel falls between GH¢13.21 and GH¢14.60 per liter. Despite a slight increase from previous rates, Ghana's fuel prices remain comparatively low.

The average price of fuel in Ghana stands at GH¢13.03 per liter, which is below the global average of $1.30 per liter. This affordability plays a significant role in empowering consumers and businesses, boosting purchasing power, and fostering a vibrant economy.

However, while low fuel prices benefit consumers and some sectors of the economy, they may pose challenges for the petroleum sector. GlobalPetrolPrices.com suggests that strategic measures, such as efficiency improvements, tax diversification, and infrastructure development, can help mitigate these challenges and create a win-win situation for all stakeholders.

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Affordable fuel prices are essential for sustaining essential operations across various sectors and influencing market trends and consumer behavior. By maintaining its ranking and implementing strategic approaches, Ghana can continue to leverage its affordable fuel prices to drive economic growth and development.

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