Fuel prices across Ghana are projected to decline in the first pricing window of 2026, driven by lower international petroleum prices and a stronger Ghana cedi, according to the Chamber of Oil Marketing Companies (COMAC).
In its January 1, 2026 price outlook, COMAC noted that global crude oil prices dropped by about 3.85 per cent, falling from US$63.79 to US$61.33 per barrel, amid ample global supply despite ongoing geopolitical tensions.
The fall in crude prices has translated into sharper declines in refined petroleum products on the international market. Petrol prices declined by 9.17 per cent, diesel by 8.11 per cent, while liquefied petroleum gas (LPG) eased by 3.82 per cent.
COMAC also highlighted the appreciation of the Ghana cedi against the US dollar, which strengthened by about 8.20 per cent for the January 1 pricing window, moving from GHS11.14 to GHS10.50 to the dollar. The stronger currency is expected to reduce the cost of fuel imports and support lower ex-pump prices.
Based on these factors, COMAC projects consecutive reductions in fuel prices at the pumps. Petrol prices are expected to drop by between 2.40 per cent and 4.80 per cent, diesel by 2.42 per cent to 3.77 per cent, and LPG by 1.20 per cent to 2.19 per cent in the early January window.
However, the chamber cautioned that taxes, levies and regulatory margins still make up a significant portion of fuel prices in Ghana.
In 2025, taxes and levies accounted for about 32 per cent of pump prices, increasing the sensitivity of fuel costs to fiscal policy even when market conditions are favourable.
COMAC said while the anticipated price reductions will provide some relief to consumers, sustained benefits will depend on stable exchange rate conditions, prudent levy management and continued moderation in global petroleum markets.
Source: Starrfm.com.gh
