Christmas Fuel Price Drop Assured by Oil Marketers Board

Ghanaians can anticipate a reduction in fuel prices this Christmas, according to Gabriel Kumi, Board Chairman of the Chamber of Oil Marketing Companies (COMAC).

Mr. Kumi indicated that falling global product prices are signaling potential decreases in petrol, diesel, and Liquefied Petroleum Gas (LPG) from mid-December.

“Fortunately, Ghanaians are going to have a very good Christmas in terms of petroleum prices, because already the indication is that the price of finished petroleum products is going down,” he stated while speaking on PM Express Business Edition.

He detailed that diesel prices have already decreased by approximately 10%, with petrol showing a 6% reduction. LPG has also experienced a slight decrease of 1 to 1.5%.

However, the COMAC Chair emphasized that the stability of the Ghana Cedi is crucial for these reductions to materialize. “If the cedi is held in check, then we can be sure that on the 16th of December, prices of petroleum products will generally go down,” he explained.

Mr. Kumi believes this downward trend will continue throughout the Christmas period, as the second pricing window, which covers the festive season, is also expected to yield further price reductions. He assured that Ghana is “likely to see some decrease in the price of petroleum products.”

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