Some Oil Marketing Companies (OMCs) in Ghana have begun reducing fuel prices, responding to recent industry projections. Vivo Energy Shell led the way, decreasing petrol prices from GH₵12.69 to GH₵12.50 per litre and diesel from GH₵13.22 to GH₵12.99 per litre.

PETROSOL has also adjusted its prices, now selling petrol at GH₵12.48 per litre and diesel at the same rate. JoyBusiness has learned that more OMCs are expected to follow suit and lower prices before the week ends.

Several OMCs have indicated a potential for further price reviews in the next pricing window, starting January 1, 2026, should the current market factors persist.

This move follows a report from the Chamber of Oil Marketing Companies, which predicted a potential decline of up to 4% in fuel prices during the second pricing window of December. Petrol prices were projected to fall by 1.64% to 3.89%, bringing the pump price to around GH₵12.90 per litre. Diesel was expected to see a more significant reduction of up to 4.59%, with a litre selling for approximately GH₵13.20.

Liquefied Petroleum Gas (LPG) is also anticipated to become cheaper, with a potential decrease of up to 2.16%, resulting in a price of around GH₵14 per kilogram.

The Chamber attributed these projected reductions to declining prices of finished petroleum products on the international market. Despite a slight increase in crude oil prices, major petroleum products experienced price drops due to oversupply in the global market. Specifically, petrol prices fell by 6.5%, diesel by 11.67%, and LPG by 0.22%.

However, the Ghana Cedi experienced a marginal depreciation against the US dollar during the period, moving from GH₵11.14 to GH₵11.43. According to the Chamber, the price reduction is also influenced by seasonal festive demand pressures, though limited foreign exchange support restrained further Cedi appreciation.

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