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Fuel prices in Ghana are set to decrease significantly from November 1, 2025, according to the latest pricing outlook from the Chamber of Oil Marketing Companies (COoMAC). The report, seen by JoyBusiness, indicates that the anticipated drop will be one of the largest reductions recorded so far this year.
Petrol is projected to fall by up to 5.21% per litre, lowering the pump price to around GH¢12.92 from the previous GH¢13.93 quoted by some oil marketing companies. Diesel is also expected to drop between 6.03% and 8.13%, bringing the price per litre to about GH¢13.10 from GH¢14.56. Additionally, Liquefied Petroleum Gas (LPG) could decrease by as much as 6.66%, reaching approximately GH¢13.60 per kilogram.
If all oil marketing companies implement these reductions, it would mark the first time in years that petroleum products have recorded a double-digit percentage decline in a single month. Some marketers may begin adjusting their prices as early as this weekend, while others could delay until they clear existing stock.
According to the Chamber of Oil Marketing Companies, the anticipated reduction is largely due to the appreciation of the cedi and falling global crude oil prices. The cedi strengthened from GH¢12.63 to GH¢11.21 per dollar during October, representing an 11.22% gain. This improvement nearly offset earlier losses and reflected growing investor confidence.
Globally, crude oil prices fell to a five-month low of $62.82 per barrel, dropping by 6.49% amid trade tensions between the United States and China and fears of oversupply. Finished petroleum products also recorded declines, with petrol, diesel, and LPG prices falling by 3.30%, 2.48%, and 2.35%, respectively.
The expected price cuts are likely to ease public concerns over rising transport fares and contribute to lowering inflation, as reduced fuel costs are expected to influence prices of goods and services across the country.
