Motorists and households are set to breathe a little easier this week as fuel prices are expected to take a welcome dip across the country. Starting Thursday, October 16, 2025, petrol, diesel, and LPG are all expected to sell for less at the pumps.
The Chamber of Oil Marketing Companies (COMAC), in its latest pricing outlook, says the upcoming review will see fuel prices fall by as much as 4 percent, driven by a combination of a stronger cedi and cheaper oil on the world market.
According to the projections, petrol prices could drop by up to 4.15 percent, bringing a litre to about ₵13.93, from ₵14.52. Diesel could also decline between 2 and 4 percent, selling around ₵14.56 per litre instead of ₵15.17. LPG, used in most Ghanaian homes, is expected to record the biggest drop of all, as much as 4.46 percent.
COMAC attributes the reduction to two main factors: the cedi’s recent appreciation against the U.S. dollar and a dip in global crude oil prices.
During this pricing window, the cedi strengthened from ₵12.40 to ₵12.25 per dollar, a gain of 1.21 percent. That may sound small, but in the oil business, where every import is paid for in dollars, it makes a real difference. The stronger cedi means importers spend less to bring in fuel, and those savings often show up, even if briefly, at the pumps.
On the global stage, crude oil prices have also cooled off in recent weeks as supply outpaced demand. This has lowered import costs further for Ghanaian Oil Marketing Companies (OMCs), setting the stage for the expected price cuts.
Meanwhile, there were some tremors on the international oil market on Thursday after U.S. President Donald Trump announced that Indian Prime Minister Narendra Modi had pledged to phase out purchases of Russian oil. The news helped calm fears of a looming oversupply that had dragged oil prices to a five-month low earlier in the week.
Following the announcement, Brent crude oil, the world’s benchmark, rose slightly to $62.26 per barrel, up 0.56 percent from the previous day. But analysts say the bounce is minor: Brent is still down 8.38 percent this month and more than 16 percent lower than a year ago.
For Ghana, those lower global prices are good news, at least for now. If the cedi holds its ground and oil prices stay calm, consumers could see more relief in the coming pricing windows.
