As Ghanaians look forward to the 2025 budget presentation today Match 11, 2025, many are wondering if fuel prices will be reduced. However, Professor John Gatsi, an economist, has clarified that fuel prices do not decrease because of the budget itself during an interview on GTV breakfast show.
According to Professor Gatsi, fuel prices are mainly determined by Oil Marketing Companies (OMCs) and fuel stations. However, he pointed out that the budget could have an indirect impact on fuel prices in certain ways.
He explained that if the budget helps to stabilize the exchange rate, it could lead to lower fuel prices. Additionally, if the government reviews or removes some levies included in the fuel pricing formula, consumers might see some relief at the pumps.
