Prices of petroleum products in Ghana are expected to decline marginally at the pumps from today, January 16, 2026, marking the second consecutive reduction within the month.
The projected price drop has been confirmed by the Chamber of Oil Marketing Companies (COMAC), which attributes the development to a combination of favourable exchange rate movements and easing prices of refined petroleum products on the international market.
According to data from COMAC, petrol prices are expected to fall by about 2.30 percent, diesel by 2.10 percent, while Liquefied Petroleum Gas (LPG) is projected to see a sharper reduction of approximately 5.09 percent.
The Chamber explained that although global crude oil prices recorded some increases during the period, the prices of refined petroleum products continued to soften. On the international market, petrol prices declined by 1.07 percent, diesel by 0.68 percent, and LPG by 3.40 percent.
Another major factor influencing the expected reductions is the strong performance of the Ghana cedi. COMAC reports that the local currency appreciated from GH¢11.52 to GH¢10.90 against the US dollar, representing a 5.71 percent gain over the period.
Industry analysts believe the appreciation of the cedi has significantly reduced the cost of importing finished petroleum products, creating room for oil marketing companies to adjust pump prices downward.
The anticipated cuts are expected to bring further relief to consumers, following earlier price reductions recorded in the first pricing window of January.
Market leader Star Oil set the tone at the beginning of the year with two price adjustments in the first week, a move industry observers say has intensified competition, particularly with state-owned GOIL.
Currently, a litre of petrol is selling at GH¢10.56, down from GH¢10.86, while diesel has declined to GH¢11.56 from GH¢11.96. Ron 95 is also retailing at GH¢12.96, reduced from GH¢13.56.
The Chamber of Petroleum Consumers (COPEC) has welcomed the growing price competition among oil marketing companies, describing it as a positive outcome of Ghana’s deregulated downstream petroleum sector.
COPEC noted that the emerging price war is providing much-needed financial relief to consumers and urged companies to sustain competitive pricing in the interest of the public.
