The Chamber of Bulk Oil Distributors (CBOD) has projected a decline in fuel prices for the first pricing window of October 2025, citing a drop in international refined petroleum prices and a notable appreciation of the cedi against major trading currencies.
In its latest market outlook report covering the period October 16–31, CBOD said the expected adjustment would bring much-needed relief to consumers and support overall price stability in the economy, particularly as global demand eases toward the end of the year.
“If this trend continues, it could provide some cushion to consumers while helping to stabilize prices in the domestic market,” the report noted.
According to CBOD, average diesel pump prices declined by 0.15%, from GHS 13.6910 per litre to GHS 13.6700 per litre, following a sharp drop in global diesel prices. Similarly, LPG prices fell by 0.73%, from GHS 14.000 per kilogram to GHS 13.8980 per kilogram, reflecting a parallel decline in international LPG prices.
However, petrol prices saw a slight uptick of 1.37% to an average of GHS 13.3700 per litre, driven by limited stock availability and a brief depreciation of the cedi during the period. Despite the marginal increase, petrol pump prices remain 10.13% lower compared to levels recorded in January this year.
The chamber attributed the downward trend in global prices to easing geopolitical tensions, particularly the anticipated Israel–Hamas ceasefire, which could boost crude oil supply from the Middle East and further suppress prices.
“Market indicators suggest that both crude and refined product prices will continue to moderate in the near term, supported by steady supply surpluses, reduced geopolitical risks, and softening demand,” CBOD added.
CBOD emphasized the need for continued efforts to stabilize the domestic currency and implement long-term measures to protect Ghana’s economy from external shocks, particularly those linked to energy imports.
With global demand expected to weaken as the Northern Hemisphere enters the winter season, the Chamber anticipates further downward pressure on petroleum prices — a development that could translate into moderate ex-pump price reductions in Ghana in the coming weeks