Chamber of Oil Marketing Companies (COMAC) has announced that fuel prices in Ghana are expected to drop starting Thursday, October 16, 2025, following a recent appreciation of the cedi against the US dollar. The chamber made this projection in its latest fuel pricing outlook report, which analyses both local currency trends and international oil market dynamics.
According to COMAC, petrol prices are projected to fall by up to 4.15% per litre, reducing the average pump price from GH¢14.52 to about GH¢13.93. Similarly, diesel prices could decline by between 2.08% and 4.10%, bringing the new price to around GH¢14.56 per litre, down from GH¢15.17.
The report also indicated that Liquefied Petroleum Gas (LPG) may experience a 4.46% decrease, offering some relief to households and industries that rely on gas for daily operations. COMAC attributed these expected reductions mainly to the strengthening of the cedi, which appreciated from GH¢12.40 to GH¢12.25 per US dollar during the current pricing window, representing a 1.21% gain.
While global Brent crude oil prices have seen only a marginal decline, the chamber noted that the foreign exchange performance of the cedi played a more decisive role in easing domestic fuel costs.
Industry analysts believe the anticipated price cuts will reduce inflationary pressure, improve transport and production costs, and bring temporary relief to consumers amid ongoing global energy volatility.