Prices of petroleum products are expected to decline marginally at the pumps from January 1, 2026.
The projection is contained in the latest outlook report by the Chamber of Oil Marketing Companies (COMAC), which guides pricing decisions by oil marketing companies and has been sighted by JoyBusiness.
Projected Reduction
The price of petrol is expected to fall by between 2.40% and 4.80%, bringing the pump price per litre to about GH¢11.90.
Diesel is projected to decline by as much as 3.77%, which could see a litre selling at around GH¢12.50.
Liquefied Petroleum Gas (LPG) is also expected to drop by up to 2.19%, resulting in a kilogram selling at approximately GH¢13.40.
Reasons
According to the Chamber of Oil Marketing Companies, the expected reduction has been influenced mainly by declining prices of crude oil and finished petroleum products on the international market.
Market data show that international refined product prices fell significantly during the period, with petrol down 9.17%, diesel down 8.11%, and LPG down 3.82%.
The cedi has also strengthened against the US dollar, appreciating by more than 3% over the past three weeks.
For the January 1, 2026, pricing window, the local currency rose from GH¢11.14 to GH¢10.50 to the dollar, representing an 8.20% gain.
This marks one of its strongest performances in recent months, and a sharp improvement from the GH¢14.84 recorded during the same period last year.
More than 200 Oil Marketing Companies have told JoyBusiness they will begin reducing prices from this weekend after completing the necessary adjustments at the pumps.
Others say the changes could take effect as early as Monday.
Some marketers have also indicated that further reductions could follow if the cedi continues to appreciate or remains stable against the dollar.
Source: Joy Business
