The Chamber of Oil Marketing Companies (OMCs) has projected a marginal drop in fuel prices at the pumps during the October 16, 2025 pricing window, citing the decline in international crude oil prices and the recent appreciation of the cedi.
According to data released by the Chamber, crude oil prices on the international market fell by 1.43%, moving from $68.45 to $67.47 per barrel. This decline, coupled with stronger foreign exchange inflows and a more stable local currency, is expected to influence downward adjustments in pump prices.
Projected Price Movements
The Chamber anticipates a 1.21% average reduction in the ex-pump prices of petrol, diesel, and LPG. On the international market, prices of the three key petroleum products recorded respective decreases of 4.54%, 3.94%, and 3.43%.
“These movements on the global market, alongside the cedi’s improved performance, provide the basis for the expected decline in local pump prices,” the Chamber noted.
Cedi Strength and Market Confidence
The local currency appreciated from GHS12.40 to GHS12.25 per US dollar over the review period. The Chamber attributes this to increased foreign exchange inflows from commodity exports, renewed investor confidence following Ghana’s fifth IMF review, and effective Bank of Ghana interventions in the forex market.
Outlook
Crude oil analysts cited by the Chamber say renewed bearish pressure on global oil markets has led to product price drops ranging between 2% and 4% for petrol, diesel, and LPG.
With these developments, the Chamber of Oil Marketing Companies expects consumers to experience some relief at the pumps in the coming pricing window, barring any unforeseen volatility on the international market.