The Chamber of Oil Marketing Companies (COMAC) says petrol consumers could pay less at the pumps in the first half of November, while diesel and liquefied petroleum gas (LPG) users are likely to face higher prices.

For the November 1-15, 2026 pricing window, the chamber has projected a reduction of up to 3.35% in petrol prices. It also expects diesel prices to increase by 1.50% and LPG prices by 0.81%.

Some fuel retailers have already begun adjusting their prices. Star Oil has reduced its petrol price from GH¢16.45 to GH¢16.38 per litre but increased diesel from GH¢17.95 to GH¢18.45 per litre.

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This means a customer buying 50 litres of diesel at Star Oil will pay an additional GH¢25, while someone purchasing the same quantity of petrol will save GH¢3.50.

Other major fuel retailers told JoyBusiness they would adjust their prices later on Monday or during the week. Actual pump prices are expected to vary among oil marketing companies.

COMAC said the mixed outlook reflects movements in international fuel prices, a stronger cedi and measures introduced to cushion diesel consumers.

Although crude oil prices fell by 1.90% during the review period, international petrol prices declined by 4.97%. In contrast, diesel prices increased by 3.54%, while LPG prices rose by 21.33%.

The cedi also appreciated by 0.70% to an average of GH¢11.7326 to the US dollar, based on bank rates between October 12 and October 27. The chamber said the currency's appreciation was expected to help limit the impact of higher international fuel prices.

According to COMAC, foreign exchange interventions by the Ghana Gold Board provided some support for the cedi over the past three weeks. The chamber also cited a planned US$1.5 billion injection to support the currency ahead of the festive season.

Meanwhile, adjustments to the Energy Sector Shortfall and Debt Repayment Levy and selected statutory margins remain in place for one month to limit the increase in diesel prices.

“The total value of the intervention remains unchanged,” COMAC said.

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The chamber explained that the government and industry would continue to share the cost of the intervention introduced on April 16, 2026, to cushion diesel consumers.

DR/MA

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