Oil Marketing Companies (OMCs) have begun implementing new pump prices for the first pricing window of November, with petrol prices declining while diesel prices record an increase.
Star Oil has reduced its petrol price from GH¢16.45 to GH¢16.38 per litre, while increasing diesel from GH¢17.95 to GH¢18.45 per litre.
The adjustments reflect divergent movements in international petroleum product prices, despite an appreciation of the cedi against the US dollar.
Other major fuel retailers are expected to review their pump prices later this week, with the final adjustments varying across companies.
The changes follow projections by the Chamber of Oil Marketing Companies (COMAC), which anticipated a reduction of up to 3.35 per cent in petrol prices, a 1.50 per cent increase in diesel prices and a 0.81 per cent rise in LPG prices for the November 1–15 pricing window.
COMAC’s indicative market prices placed petrol at GH¢17.02 per litre and diesel at GH¢18.99 per litre. However, actual pump prices will depend on the pricing decisions of individual OMCs.
International fuel prices move in opposite directions
COMAC attributed the mixed price outlook to contrasting movements in international petroleum product prices, alongside gains in the local currency and measures introduced by government and industry to moderate diesel price increases.
During the review period, crude oil prices declined by 1.90 per cent, while international petrol prices fell by 4.97 per cent.
Diesel prices, however, increased by 3.54 per cent, while LPG recorded a sharper 21.33 per cent rise on the international market.
The cedi appreciated by 0.70 per cent to GH¢11.7326 against the US dollar, based on average bank rates between October 12 and October 27, 2026.
According to COMAC, foreign exchange interventions by the Ghana Gold Board over the preceding three weeks provided some support for the local currency.
The chamber also cited a planned $1.5 billion injection to support the cedi ahead of the festive season.
The appreciation of the cedi is expected to help cushion the impact of higher international petroleum product prices on domestic fuel costs.
Government, industry maintain measures to moderate diesel prices
To limit the impact of rising international diesel prices, government and industry have maintained adjustments to the Energy Sector Shortfall and Debt Repayment Levy and selected statutory margins for another month.
COMAC said the intervention preserves the burden-sharing arrangement introduced on April 16, 2026, to moderate increases in diesel prices at the pumps.
The chamber said the total value of the intervention remains unchanged, with government and industry continuing to share the cost of cushioning consumers against higher diesel prices.
The measures are expected to limit the extent to which rising international diesel costs are passed on to consumers during the November pricing window.