Ghanaians are set to enjoy a significant drop in fuel prices at the pumps starting November 1, 2025, according to the latest pricing outlook from the Chamber of Oil Marketing Companies (COMAC).
The report, which guides pricing decisions for oil marketing companies nationwide, projects substantial reductions across all major fuel products.
Petrol is expected to fall by up to 5.21%, bringing the average pump price down to about GH¢12.92 per litre, from the current GH¢13.93.
Diesel is likely to decrease between 6.03% and 8.13%, reducing prices to roughly GH¢13.10 per litre, compared to GH¢14.56.
Liquefied Petroleum Gas (LPG) could drop by as much as 6.66%, lowering the price to around GH¢13.60 per kilogram.
If these reductions are implemented by all 200-plus oil marketing companies, this would mark the biggest fuel price cut in Ghana in 2025, a rare development, given that petroleum prices seldom fall this sharply within a single pricing window.
Some oil marketers may introduce the new prices as early as this weekend, while others could wait to clear existing stock or recalibrate their pumps before making adjustments later next week.
COMAC attributes the projected reductions to declining global crude oil prices and the strong appreciation of the cedi during October.
The cedi strengthened from GH¢12.63 to GH¢11.21 per dollar in the October 16 pricing window, an 11.22% gain, nearly reversing the 13.33% depreciation recorded in the third quarter of the year.
Analysts link the rebound to the Bank of Ghana’s new spot forex sales policy, which has boosted market efficiency and improved dollar liquidity.
Meanwhile, international crude oil prices dropped to a five-month low of $62.82 per barrel, a 6.49% decline attributed to rising US-China trade tensions and fears of a global supply glut later in the year.
Prices of refined petroleum products also fell on the world market with petrol down 3.30%, diesel 2.48%, and LPG 2.35%.
The expected fuel price cuts are likely to ease transport costs and may halt recent calls by driver unions for fare increases.
Economists also believe the reductions could help slow inflation, as cheaper fuel typically lowers the cost of transportation, food, and essential goods ultimately easing the cost of living for consumers.
