The prices of petroleum products are projected to fall significantly at fuel pumps across Ghana from November 1, 2025, marking what could be the largest price reduction so far this year.
According to the latest outlook report by the Chamber of Oil Marketing Companies (COoMAC), the upcoming review will see major price cuts across all petroleum products, driven by falling global oil prices and a stronger cedi.
Petrol prices are expected to decline by up to 5.21% per litre, dropping from about GH¢13.93 to GH¢12.92, while diesel could fall between 6.03% and 8.13%, bringing prices to approximately GH¢13.10 per litre from GH¢14.56.
In addition, Liquefied Petroleum Gas (LPG) is projected to fall by 6.66%, reducing the cost to about GH¢13.60 per kilogram.
If implemented by all over 200 oil marketing companies nationwide, this would mark the first double-digit percentage reduction in fuel prices within a single month — a development industry observers have described as historic.
Some oil marketing firms are expected to begin adjusting their prices as early as this weekend, while others may wait until next week after selling off old stock or completing pump recalibrations.
COoMAC attributes the anticipated reduction to two key factors: a decline in global crude oil prices and the cedi’s strong appreciation in October, which improved market confidence.
Between October 16 and October 31, 2025, the cedi strengthened from GH¢12.63 to GH¢11.21 per dollar, representing an 11.22% gain. This performance nearly reverses the losses suffered earlier in the year and signals renewed currency stability.
On the international market, crude oil prices dropped to a five-month low of $62.82 per barrel, reflecting a 6.49% decline, largely due to fears of oversupply and economic uncertainty from escalating US-China trade tensions.
The ripple effect of this reduction extends beyond the oil sector. Lower pump prices are expected to ease inflationary pressures, reduce transportation costs, and lower the general cost of living.
Economic analysts say the drop could also halt growing calls by transport unions for a fare hike, providing much-needed relief for commuters and households already burdened by rising prices.
With global and domestic conditions aligning favorably, November’s pricing window could bring welcome relief to millions of Ghanaians — both at the pumps and in their pockets.
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