Fuel prices are beginning to trend downward after weeks of anticipation, with several Oil Marketing Companies (OMCs) initiating cuts at the pumps.
Vivo Energy, operators of Shell fuel stations, was the first to adjust prices, reducing petrol to GH¢12.50 per litre from GH¢12.69. Diesel prices at Shell outlets have also been revised downward, now selling at GH¢12.99 instead of GH¢13.22.
PETROSOL has also implemented price cuts, with both petrol and diesel now retailing at GH¢12.48 per litre.
Industry sources say more OMCs are expected to follow before the end of the week. Some marketers are also considering further reviews in the next pricing window starting January 1, 2026, if current market trends remain unchanged.
What Is Driving the Price Cuts
The Chamber of Oil Marketing Companies (COMAC) had earlier projected a general price reduction for petroleum products during the second pricing window of December.
Its outlook indicated that petrol prices could drop by between 1.64 per cent and 3.89 per cent, while diesel could record reductions of up to 4.59 per cent. LPG prices were also expected to ease by as much as 2.16 per cent.
These reductions, according to COMAC, are being driven primarily by sharp declines in the prices of finished petroleum products on the international market. Global oversupply has pushed petrol prices down by 6.5 per cent and diesel by 11.67 per cent, while LPG recorded a marginal dip of 0.22 per cent.
Currency and Seasonal Factors
Despite the positive pricing outlook, the Ghana cedi weakened slightly against the US dollar during the period, moving from GH¢11.14 to GH¢11.43. Limited foreign exchange inflows prevented stronger currency gains, even as seasonal festive demand influenced consumption patterns.
