By: Benjamin Nii Nai Anyetei
Fuel prices at the pumps are expected to record a marginal decline from January 1, 2026, following a stronger performance of the Ghana cedi and a sustained drop in crude oil and refined petroleum product prices on the international market.The outlook is contained in the latest pricing report by the Chamber of Oil Marketing Companies (COMAC), which serves as a guide for fuel price adjustments by oil marketing companies.
According to COMAC’s projections, the price of petrol is expected to fall by between 2.40 per cent and 4.80 per cent, which could bring the pump price per litre to about GH¢11.90.
Diesel prices are also projected to decline by as much as 3.77 per cent, with a litre expected to sell at approximately GH¢12.50.
For Liquefied Petroleum Gas (LPG), prices are forecast to drop by up to 2.19 per cent, potentially reducing the price of a kilogram to around GH¢13.40.
Drivers of the Expected Reduction
COMAC attributes the anticipated marginal decline in fuel prices primarily to falling crude oil prices and lower costs of finished petroleum products on the global market. Market data indicate that during the review period, international refined product prices recorded notable declines, with petrol prices falling by 9.17 per cent, diesel by 8.11 per cent, and LPG by 3.82 per cent.
Another key factor influencing the expected price reduction is the strengthening of the Ghana cedi against the US dollar. Over the past three weeks, the local currency has appreciated by more than 3 per cent. For the January 1, 2026 pricing window, the cedi strengthened from GH¢11.14 to GH¢10.50 to the dollar, representing an 8.20 per cent appreciation.
This performance marks one of the cedi’s strongest gains in recent months and a significant improvement compared to the GH¢14.84 recorded during the same period last year.
Implementation at Fuel Stations
More than 200 Oil Marketing Companies have told JoyBusiness that they will begin reducing pump prices from this weekend, after completing the necessary adjustments at their stations.
Some marketers say the new prices could take effect as early as Monday, while others have indicated that additional reductions may follow should the cedi continue to strengthen or remain stable against the US dollar.
The anticipated price cuts are expected to offer modest relief to consumers as the new year begins, particularly in transportation and energy-related costs.
