Petroleum products prices are expected to experience a Sharp decrease at fuel pumps this year.
This is due to the Ghanaian legal tender appreciation against the dollar.
According to the latest Chamber of Oil Marketing Companies (COMAC) pricing outlook for the first pricing window of June 2025, fuel prices will fall heavily beginning June 1, 2025.
Petrol is expected to go down between 3.6% and 7.8% per liter from June 1, 2025, according to the price guideline from COMAC.
This means that a liter of petrol could be sold for GH¢12.02 or even lower.
On the other hand, diesel should go down by 4.2% to 7.8% per litre. Consequently, a litre would go for GH¢12.90 or even lower than what the pricing outlook has projected.
LPG is likely to be sold at GH¢15 per kilogram if the various Oil Marketing Companies do adjust their prices by 6.3% per kilogram.
Reasons for Reduction
According to the Chamber of Oil Marketing Companies, the reduction is purely due to the cedi’s sustained appreciation against the US dollar during the period.
Cedi’s Impact
In the second half of May 2025, the Ghanaian cedi appreciated significantly against the US dollar, strengthening from GH¢13.99 to GH¢12.15, a gain of approximately 13.11%.
The cedi has continued its impressive run on the interbank market, registering substantial gains against major trading currencies, particularly the US dollar.
For the pricing window, crude oil prices increased by 3.92%. In line with this, all international product prices also increased.
Petrol prices rose marginally by 2.53%, LPG increased by 1.35%, while Diesel recorded a high increment, rising by 3.07%
Some of the Oil Marketing Companies have already started reducing prices at the pumps even before the June 1, 2025, expected date.
One of the industry giants, Allied Oil, on 28th June 2025, announced a reduction in prices of petroleum products.
Petrol sold at GH¢12.15 pesewas and diesel at GH¢13.54.
