Ghanaians are expected to see a significant reduction in the price of petroleum products from November 1, 2025.
The Chamber of Oil Marketing Companies (COoMAC), in its latest outlook report, made this known.
COoMAC projection details, “Petrol is expected to decline by up to 5.21% per litre, bringing the pump price down to about GH¢12.92 from the previous GH¢13.93 quoted by some oil marketing companies.
Diesel could also fall between 6.03% and 8.13%, resulting in a litre being sold at around GH¢13.10, down from GH¢14.56.
Liquefied Petroleum Gas (LPG) is projected to decrease by up to 6.66%, which will bring the price per kilogram to about GH¢13.60”.
Reports also show it will be the first time in a long while that a petroleum product records a double-digit percentage reduction within a single month.
Some OMCs are expected to start reducing their prices as early as this weekend, November 1, 2025.
However, others may wait to sell existing stock before adjusting prices next week.
The Chamber of Oil Marketing Companies added that the reason for the drop in price is driven by a drop in global crude oil prices and a strong cedi in October.
The expected drop in fuel prices will hinder the driver unions’ plans to increase transport fares.
The drop will also help keep inflation within single digits in the coming months, which will ease the prices of food, goods, and services.
Recall, the Ghana Private Road Transport Union (GPRTU) had revealed plans to increase transport fares if fuel prices fail to remain stable.
According to the Deputy Public Relations Officer of the GPRTU, Samuel Amoah, the rising fuel costs and the spare parts dealers’ refusal to reduce prices have forced the union to consider adjusting transport fares.
Speaking to Eyewitness News, Samuel Amoah stated, “When we were asked to reduce our transport fare by 15%, the fuel price was around 12.59p for diesel, and the petroleum too was around 11.34p”.
“After that, the expectation was that maybe the fuel price was going to remain the way it was, but then we noticed that it kept going up. At the same time, we are also complaining about the cost of spare parts and other components that we use to run our business.”
The Deputy Public Relations Officer of the GPRTU further cried out at the spare parts dealers’ refusal to reduce their prices.
He further explained, “We came out complaining that the spare parts dealers should reduce their prices, but they haven’t done so. So, looking at where the fuel prices are now — diesel is now being sold at 14.44 pesewas, thereabout, and then petrol too around 13.69 pesewas — we find that if the next pricing window pushes fuel up again, then the transport operators would have to do some adjustments of transport fares so we can continue to serve the public”.
The GPRTU called on the government to act swiftly to stabilise fuel prices.
“We are asking the government to find a way of holding the fuel pricing for it not to go up again. But if it happens to go up, then there is nothing we can do but to increase the transport fare,” he said.
See the post below:
Fuel prices set to be reduced by a significant margin from Nov. 1
— JoyNews (@JoyNewsOnTV) October 29, 2025
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