The prices of petroleum products in Ghana are anticipated to experience a slight decrease at the fuel stations starting today, January 16, 2026, marking the second consecutive reduction within this month.
This expected price reduction has been validated by the Chamber of Oil Marketing Companies (COMAC), which attributes this change to a combination of favorable exchange rate fluctuations and declining prices of refined petroleum products in the global market.
As per data provided by COMAC, petrol prices are projected to decrease by approximately 2.30 percent, diesel by 2.10 percent, while Liquefied Petroleum Gas (LPG) is expected to see a more significant reduction of around 5.09 percent.
The Chamber clarified that despite some increases in global crude oil prices during this period, the prices of refined petroleum products have continued to decline. On the international market, petrol prices have fallen by 1.07 percent, diesel by 0.68 percent, and LPG by 3.40 percent.
Another significant factor contributing to the anticipated reductions is the robust performance of the Ghana cedi. COMAC reports that the local currency has appreciated from GH¢11.52 to GH¢10.90 against the US dollar, indicating a 5.71 percent gain over this period.
Industry analysts suggest that the appreciation of the cedi has considerably lowered the cost of importing finished petroleum products, allowing oil marketing companies to reduce pump prices.
The expected price cuts are likely to provide additional relief to consumers, following earlier reductions noted in the first pricing window of January.
Market leader Star Oil initiated the year with two price adjustments in the first week, a strategy that industry observers believe has heightened competition, especially with the state-owned GOIL.
At present, a litre of petrol is priced at GH¢10.56, down from GH¢10.86, while diesel has decreased to GH¢11.56 from GH¢11.96. Ron 95 is also being sold at GH¢12.96, reduced from GH¢13.56.
The Chamber of Petroleum Consumers (COPEC) has expressed its approval of the increasing price competition among oil marketing firms, characterizing it as a beneficial result of Ghana’s deregulated downstream petroleum industry.
COPEC observed that the developing price conflict is offering essential financial relief to consumers and encouraged companies to maintain competitive pricing for the benefit of the public.
