Ghana's Petroleum Consumption Surged in 2024

Ghana’s petroleum product supply experienced significant growth in 2024, driven by rising demand from industrialization and rapid urbanization.

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The Association of Oil and Marketing Companies (AOMC) reported in its Petroleum Volumes Analysis, Mid-Year Review for 2023–2024 that national petroleum product supply increased by 14.88% in the first half of 2024 compared to the same period in 2023.

Gasoil (Cell Site) recorded the highest percentage increase, surging 644.38% from 13,376,300 litres in the first half of 2023 to 99,570,550 litres in 2024. Naphtha and Marine Gasoil (Foreign) also saw substantial increases of 200.00% and 151.06%, respectively. Gasoline (Premium) and Gas Oil (Diesel), which constitute the bulk of the supply, increased by 12.03% and 9.53%, respectively.

Conversely, the supply of Kerosene and Gasoil (Rig) declined, with Kerosene dropping by 17.97% and Gasoil (Rig) by 56.83%.

Regional Petroleum Supply Trends

Petrol