Fuel prices at the pumps are expected to rise from today, November 17, as Oil Marketing Companies (OMCs) begin implementing new adjustments following the latest two-week petroleum price review.
According to pricing-outlook data from the Chamber of Oil Marketing Companies (COPEC), fuel consumers should expect a 1% to 4% increase per litre across major products. While some OMCs told JOYBUSINESS they will adjust prices immediately, others say they will monitor market competition before making changes.
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COPEC’s Pricing Outlook Report attributes the expected increases primarily to rising crude oil prices on the international market. Crude climbed 2.95% in mid-November 2025 — from $62.82 to $64.67 per barrel — driven by global tariff tensions, the U.S. government shutdown and new sanctions on Russian oil.
This upward trend reflected strongly in key petroleum products:
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Petrol: +3.85%
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Diesel: +12%
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LPG: +6.97%
Even with the cedi’s recent appreciation, the gains were not strong enough to offset the anticipated upward adjustments. Some OMCs noted that without the currency’s improvement, fuel prices could have gone up significantly higher.
COPEC data shows that within the pricing window starting November 16, 2025, the cedi appreciated from GH¢11.12 to GH¢10.94, representing a 1.57% gain.
However, Databank Research forecasts mild near-term pressure on the cedi due to tightening forex supply, despite an anticipated $300 million IMF inflow in December 2025, improved investor sentiment from better credit ratings and signs that the Bank of Ghana may reduce forex market support.
Industry indicators suggest the following possible pump prices:
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Petrol: Up 1.18%–3.54%, retailing around GH¢13.15 per litre
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Diesel: Up to 3.82%, reaching about GH¢13.60 per litre
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LPG: Increase of 1.32%–3.53%
Meanwhile, COPEC notes that during the November 2025 review period, some OMCs reduced prices by 12%, 7%, and 4% per litre. The average reduction of 6.96% positions Ghana among the countries that recorded one of the largest petroleum price drops this year — and possibly in recent times.