Ghana: Fuel Prices Set For A Drop This Christmas, Says COMAC

Fuel prices are set to record a significant drop ahead of the Christmas festivities, the Chamber of Oil Marketing Companies (COMAC) has said.

The Chairman of the chamber, Gabriel Kumi, noted that current market indicators point to clear reductions in petrol, diesel, and liquefied petroleum gas (LPG), with consumers expected to feel the relief from mid-December.

Speaking on Accra-based Joy News’ PM Express Business Edition, Mr. Kumi said, “Fortunately, Ghanaians are going to have a very good Christmas in terms of petroleum prices, because indications already show that the prices of finished petroleum products are coming down.”

He explained that diesel “has seen about a 10% decrease,” while petrol “has already recorded about a 6% decrease.” Mr. Kumi added that LPG “has also declined by about 1–1.5%.”

According to the COMAC Chairman, the key determining factor remains the stability of the cedi. He noted, “If the cedi is held in check, then we can be sure that from the 16th of December, prices of petroleum products will generally go down.”

Mr. Kumi said the anticipated reduction will “carry us through Christmas,” adding that the second pricing window, which covers the festive period, is likely to bring further reductions. He stressed that Ghana is therefore “likely to see further decreases in the prices of petroleum products.”