The amount of petroleum consumed in Ghana increased by 6% in 2023.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Ghana’s national petroleum consumption rose by 6% in 2023, reaching 4.49 million metric tonnes, up from 4.22 million metric tonnes in 2022, according to the Ghana Chamber of Bulk Oil Distributors’ (CBOD) 2023 Industry Report.

Of the total consumption, 4.48 million metric tonnes (99.8%) were utilized by the non-power sector, while the power sector accounted for just 0.2%.

 The growth in consumption was largely driven by a relative decline in pump prices due to the stability of the Ghanaian cedi in 2023.

Source: newsthemegh.com