Fuel prices have started falling at petrol stations across Ghana, with some oil marketing companies (OMCs) cutting pump prices from January 1, 2026, in line with earlier industry projections. Market leader Star Oil reduced the price of petrol to GH¢10.36 per litre from GH¢11.35, while diesel fell to GH¢11.96 from GH¢12.45, the company said.
The reductions apply nationwide, although some selected stations are selling below Star Oil’s prices under discounted pricing arrangements. Other major OMCs told Joy Business they would adjust prices from January 2, as more than 200 operators in the sector typically align with market leaders’ pricing decisions.
Industry analysts attribute the cuts to falling international crude and refined product prices, alongside a strengthening Ghanaian cedi. Data shows global petrol prices declined by 9.17%, diesel by 8.11% and liquefied petroleum gas (LPG) by 3.82% during the pricing period.
The Chamber of Oil Marketing Companies had projected petrol prices to fall by up to 4.8% and diesel by nearly 3.8%, with LPG also easing. The cedi has gained more than 8% in recent weeks, trading around GH¢10.50 to the dollar, compared with GH¢14.84 a year ago, raising expectations of further pump price reductions if the trend holds.