Fuel consumers in the Republic of Ghana are expected to see a significant drop in petroleum product prices at the pumps from November 1, 2025.
According to the Chamber of Oil Marketing Companies (COMAC), petrol prices are projected to decline between 3.01% and 5.21%, diesel between 6.03% and 8.13%, and LPG between 4.60% and 6.66%.
The anticipated reduction is driven by a fall in global crude oil prices and a strong appreciation of the cedi during October.
COMAC noted that both factors “played an instrumental role in the projected price decreases at the pumps.”
From the October 16, 2025 pricing window, the cedi appreciated from GH¢12.63 to GH¢11.21 per US dollar, representing an 11.22% gain. This rebound nearly offsets the 13.33% depreciation recorded in the third quarter, signalling renewed investor confidence and improved currency stability.
Some analysts attribute the cedi’s rally to the Bank of Ghana’s shift to spot forex sales, which has enhanced market efficiency and improved dollar liquidity.
On the international front, crude oil prices have fallen to a five-month low, dropping sharply by 6.49% to $62.82 per barrel, driven by escalating US-China trade tensions and concerns over a potential supply glut in the last quarter of 2025.
Prices of refined petroleum products also declined, with petrol, diesel, and LPG recording respective drops of -3.30%, -2.48%, and -2.35%.
Currently, the average prices at the pump stand at GH¢13.08 per litre for petrol, GH¢13.19 for diesel, and GH¢13.84 for LPG. These are expected to drop based on the new projections.
The anticipated price cuts are also likely to dampen calls by driver unions for an increase in transport fares, which have gained momentum in recent weeks.
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