By; Ashiadey Dotse
The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices in Ghana will go down starting today, Friday, May 16, 2025. This includes a big drop in diesel prices.
Speaking on Channel One TV’s Breakfast Daily, COPEC’s Head of Research, Paul Eric Ofori, said diesel prices will fall by about 8.3% to 8.5%. He explained that this is one of the largest single price reductions in recent months.
“Since the second pricing window in February, we’ve seen about a 25% to 26% drop in fuel prices overall,” Ofori said.
The price cuts don’t only affect diesel. Petrol will also drop by around 4%, and Liquefied Petroleum Gas (LPG) will go down by about 10%.
“Diesel is likely to go down by at least 1 Ghana cedi,” Ofori added. He said this will bring some much-needed relief to Ghanaians who have been paying high fuel prices for months.
However, Ofori expressed concern about how slowly fuel stations lower their prices. He pointed out that Oil Marketing Companies (OMCs) are usually quick to raise prices when fuel costs go up but are slow to reduce them when prices fall.
“We want to appeal to the OMCs. When prices go up, they respond quickly. So when prices go down, why the delay?” he asked.
Mr. Paul Eric Ofori called on the Association of Oil Marketing Companies to ensure their members follow the new lower prices immediately. “We are urging the association to step in and make sure all members reduce their pump prices as expected,” he said.
