Fuel prices are expected to see a major reduction at the pumps beginning November 1, 2025, according to the latest outlook report released by the Chamber of Oil Marketing Companies (COMAC).
The report indicates that petrol, diesel, and liquefied petroleum gas (LPG) are all projected to record significant declines, marking what could be the biggest fuel price drop in Ghana this year.
COMAC attributes the expected reduction to falling global crude oil prices and a strong appreciation of the cedi in October.
The cedi strengthened from GH¢12.63 to GH¢11.21 per dollar during the October pricing window — an 11.22% gain that nearly reversed losses recorded earlier in the year.
The rebound, analysts say, was supported by the Bank of Ghana’s move to adopt spot forex sales, which improved dollar liquidity and market efficiency.
Internationally, crude oil prices dropped to their lowest level in five months, falling to about $62.82 per barrel, amid concerns over a potential global supply glut and renewed trade tensions between the United States and China.
COMAC notes that the combined effect of these developments has created room for downward price adjustments across the country’s 200-plus oil marketing companies.
The anticipated reduction is expected to ease pressure on consumers, dampen calls by transport unions for fare increases, and help lower inflation in the coming months as fuel-related costs on goods and services decline.
Some oil marketing companies are expected to implement the new prices as early as this weekend, while others may wait until the following week to adjust.
