Oil Marketing Companies reduce petrol prices to GH₵16.38 per litre

Oil Marketing Companies (OMCs) across Ghana have commenced price adjustments for the first pricing window of November 2026, leading to a marginal decrease in petrol costs alongside a rise in diesel and Liquefied Petroleum Gas (LPG) prices. The shift follows predictions by the Chamber of Oil Marketing Companies (COMAC) and reflects complex movements in the international refined petroleum market. Using Star Oil as a benchmark for the industry's current trajectory, the price of petrol has fallen from GH₵16.45 to GH₵16.38 per litre. Conversely, consumers are facing higher costs for diesel, which saw an increase from GH₵17.95 to GH₵18.45 per litre. These adjustments align closely with COMAC’s earlier projections, which anticipated a petrol price drop of up to 3.35% while forecasting a 1.50% hike for diesel and a 0.81% rise for LPG. The divergence in pump prices stems from mixed trends in the global energy market. Although international crude oil prices fell by 1.90%, the costs for refined products moved in opposite directions: refined petrol prices decreased by 4.97%, while refined diesel rose by 3.54%. These global pressures were partially offset by a domestic recovery of the Ghanaian cedi, which appreciated by 0.70% due to strategic foreign exchange interventions ahead of the festive season. To mitigate the impact of rising diesel and LPG costs on the public, the government and industry stakeholders have implemented specific interventions to manage costs for consumers. These measures are particularly critical as the country approaches the end-of-year period, where increased demand for transport and goods often exerts additional pressure on consumer spending. Market analysts expect prices to remain relatively stable for the remainder of the window as the cedi continues to benefit from central bank support.