Fuel prices to decrease from January 16 – COPEC

The Chamber of Petroleum Consumers (COPEC) anticipates a 3% reduction in petrol prices and a 1% drop in diesel prices from January 16, subject to the cedi’s performance.

During the first pricing window of January 2025, fuel prices increased slightly, with GOIL raising petrol to GH₵14.99 per litre (from GH₵14.75) and diesel to GH₵15.60 per litre (from GH₵15.45).

However, international market trends suggest a potential price decline. Liquefied Petroleum Gas (LPG) prices could see a 3% rise, contingent on product availability and currency stability.

The Bank of Ghana (BoG) conducted its first 2025 forex auction, allocating $20 million to Bulk Oil Distribution Companies (BDCs) to stabilize exchange rates. COPEC's Duncan Amoah argues for larger forex allocations, noting the current $400-500 million needed for petroleum imports far exceeds BoG's provisions.