Ghanaians may soon see a notable drop in fuel prices as the Chamber ofOil Marketing Companies (COMACs) projects petrol could sell for GH¢12 per litre in the first pricing window of June 2025.
This prediction was made by COMAC’s Chief Executive Officer, Dr. Riverson Oppong, during an interview on PM Express on Monday, May 26, 2025. Dr. Oppong attributed the anticipated drop to the sustained appreciation of the Ghanaian cedi against the US dollar, which has reduced the cost of converting global fuel prices into local currency.
He stated that if the cedi’s current strength continues through the week, the price relief could materialize by Thursday.
The fuel price reduction is expected to ease the burden on drivers and commuters who have been struggling with high transportation costs.
However, Dr. Oppong cautioned that while this development benefits consumers, it could reduce government revenue from the petroleum sector, particularly in upstream activities.
He emphasized that currency stability plays a critical role in determining pump prices due to the direct impact of forex rates on petroleum imports.
COMACs’ forecast brings hope for short-term economic relief amid wider cost-of-living concerns across the country.
Stakeholders are now watching market movements and currency trends to see if this projected decline becomes reality in the coming days.