Fuel prices in Ghana are set to inch up from today, December 1, as rising international product costs and fresh pressure on the cedi push pump prices higher, according to a new outlook from the Chamber of Oil Marketing Companies (COMAC).
The adjustment marks the start of another pricing window shaped by a mix of global uncertainty, tight diesel supply, and growing end-of-year foreign-exchange demand on the local market.
Petrol, Diesel, and LPG Set for Fresh Increases
COMAC projects petrol prices to rise between 1.97% and 3.30%, placing the average pump price around GH¢12.91 per litre. Diesel is expected to see a slightly sharper jump of 2.85% to 5.15%, which could lift the pump price to about GH¢13.37 per litre.
LPG, which has seen relatively stable pricing in recent months, is also set for an increase of up to 3.10% per kilogram, pushing the average price to GH¢13.80.
Global Market Trends Add Up
International prices of refined petroleum products have continued to creep upward over recent weeks. Data tracked by COMAC shows petrol up 1.26%, diesel rising 2.28%, and LPG edging up 0.07%. Diesel remains the standout concern globally, with supply uncertainties widening the price gap and signalling further firming in the coming days.
Cedi Weakness Adds a Second Layer of Pressure
Local pricing dynamics are being further squeezed by the cedi’s renewed softness. The currency slipped from GH¢10.94 to GH¢11.14 per dollar, a 1.76% depreciation, over the past two weeks. This has raised import costs for oil marketing companies and amplified the impact of international price movements.
The latest dip follows a period of elevated corporate foreign-exchange demand and the typical end-of-year rush for dollars, conditions that continue to shape the broader energy pricing outlook.
Outlook Hinges on Currency Stability
With international product prices firming and the cedi under pressure, fuel costs are expected to remain sensitive through December. A sustained recovery of the local currency will be key to tempering further increases in the upcoming pricing windows.
