The price of petroleum products is expected to fall significantly at the pumps from Thursday, October 16, 2025, according to the latest pricing outlo
The price of petroleum products is expected to fall significantly at the pumps from Thursday, October 16, 2025, according to the latest pricing outlook from the Chamber of Oil Marketing Companies (COMAC).
The report, which guides the pricing decisions of oil marketing companies (OMCs) in Ghana, and sighted by Joy Business, projects notable reductions in both petrol and diesel prices.
Projected Adjustments
According to COMAC, petrol prices are expected to drop by up to 4.15% per litre, bringing the pump price to about GHS 13.93, down from the current GHS 14.52.
Diesel prices could also see a reduction of between 2.08% and 4.10%, resulting in a new pump price of around GHS 14.56, compared to GHS 15.17 previously.
Reasons for the Reduction
According to the Chamber of Oil Marketing Companies (COMAC), the expected drop in fuel prices is being driven by two key factors — the decline in global crude oil prices and the recent appreciation of the Ghana cedi.
The Chamber noted that both developments have played “an instrumental role in the projected price decreases at the pumps.”
During the current pricing window, the cedi strengthened from GHS 12.40 to GHS 12.25 per US dollar, marking a 1.21% appreciation. Market analysts have attributed this rebound to stronger foreign exchange inflows from commodity exports, renewed investor confidence following the fifth IMF review, and improved market interventions by the Bank of Ghana.
On the international market, crude oil prices fell by 1.43% to $68.45 per barrel, while refined petroleum product prices also dropped — petrol by 4.54%, diesel by 3.94%, and LPG by 3.43%.
However, industry observers caution that not all of Ghana’s over 200 Oil Marketing Companies (OMCs) may reflect these reductions at the pumps. Many firms reportedly absorbed potential price increases from October 1, 2025, and as a result, prices could remain unchanged over the next two weeks instead of declining further.