Fuel prices in Ghana are expected to begin the new year on a softer note, as Oil Marketing Companies (OMCs) signal potential reductions in the first pricing window of January 2026.

According to pricing projections from the Chamber of Oil Marketing Companies (COMAC), petrol is expected to drop by about 4.80 percent, diesel by 3.77 percent and Liquefied Petroleum Gas (LPG) by approximately 2.19 percent across the board.

If realised, the adjustments would continue the recent downward trend in pump prices, supported by favourable developments in both the global and domestic cost environments.

The anticipated reductions are largely driven by a sharp fall in international petroleum product prices and the recent appreciation of the Ghana cedi.

Lower global prices for refined fuels have reduced import costs, while the stronger local currency has alleviated exchange-rate pressures that typically influence domestic fuel pricing.

Together, these factors have improved cost margins for OMCs, creating room to pass savings on to consumers.

Motorists to enjoy relief as fuel prices drop toward end of 2025

The January outlook builds on price cuts implemented during the second pricing window of December.

Market leader Star Oil reduced petrol prices to GH¢11.35 per litre from GH¢11.97, while diesel fell to GH¢12.45 per litre, with some outlets offering even lower promotional prices.

State-owned GOIL also adjusted prices downward, selling petrol at GH¢11.99 per litre, diesel at GH¢12.94 and Super XP 95 at GH¢14.95.

International outlet TotalEnergies followed suit, cutting petrol prices to GH¢12.50 per litre from GH¢12.69 and diesel to GH¢12.99 from GH¢13.22.

For households, further reductions in January could help ease post-festive financial pressures, particularly those related to transport and cooking fuel costs.

Businesses, especially transport operators, logistics firms and manufacturers, also stand to benefit from lower operating expenses, with possible spillover effects on prices across parts of the economy.

Despite the positive outlook, fuel pricing remains sensitive to movements in the cedi and global oil market dynamics.

Any renewed currency pressure or rebound in international oil prices could limit the scope for further cuts.

However, if current trends hold, consumers may enter 2026 enjoying one of the most sustained periods of fuel price relief in recent years.

ID/AE