The Chamber of Oil Marketing Companies COMAC says Crude oil prices recorded a modest rise in mid-November 2025, a development expected to ease the cedi’s recent gains in the forex market. According to COMACs monthly pricing report, International benchmark prices increased by 2.95%, moving from $62.82 to $64.67 per barrel.
Data from the petroleum market indicate that ex-pump prices for petrol, diesel, and LPG are projected to rise between 1.18% and 3.54%, 1.53% and 3.82%, and 1.32% and 3.53% respectively in the next pricing window which begins on the 16th November 2025. COMAC says the anticipated increases are largely attributed to strong international product prices, which saw petrol climb by 3.85%, diesel surge by 12.12%, and LPG rise by 6.97%.
Despite these pressures, the cedi appreciated by 1.57% against the US dollar, supported by improved investor confidence, stronger foreign inflows, and an upgraded S&P credit rating. The Bank of Ghana is also expecting a US$385 million IMF inflow in December 2025, which could further bolster stability.
However, analysts caution that forecast risks remain elevated due to global uncertainties, including fallout from recent tariff turmoil, a US government shutdown, and newly imposed sanctions on Russia that are still unfolding. Databank Research warns that the cedi may face modest near-term pressures as forex supply tightens.
Market watchers say that while the currency’s recent appreciation has helped offset some of the sharp increases in international petroleum prices, consumers should still brace for marginal upward adjustments in domestic fuel prices in the coming days.