Fuel Prices Poised to Rise as OMCs Start New Adjustment Cycle

Oil Marketing Companies (OMCs) in Ghana are set to increase fuel prices at pumps starting today, November 17, following the regular two-week review by the Chamber of Oil Marketing Companies (COPEC). The expected adjustment ranges from 1% to 4% per litre across petroleum products.

Some OMCs plan to implement the increases immediately, while others will monitor market competition before adjusting prices.

Reasons Behind the Hike

COPEC’s Pricing Outlook Report attributes the increase to rising international crude oil prices, which climbed 2.95% in mid-November 2025 from $62.82 to $64.67 per barrel. Factors influencing global crude markets include tariff tensions, a U.S. government shutdown, and new sanctions on Russian oil.

As a result, major petroleum products have experienced the following price shifts:

  • Petrol: +3.85%

  • Diesel: +12%

  • LPG: +6.97%

Although the cedi recently appreciated 1.57% from GH¢11.12 to GH¢10.94 per USD, the currency gains were insufficient to offset the upward pressure on fuel prices. Analysts note that without this appreciation, increases could have been steeper.

Projected Retail Prices

  • Petrol: +1.18% to 3.54%, potentially around GH¢13.15 per litre

  • Diesel: up to +3.82%, possibly GH¢13.60 per litre

  • LPG: +1.32% to 3.53%

COPEC data also shows that some firms had previously reduced prices by as much as 12%, 7%, and 4% per litre, averaging about 6.96%, marking one of the largest price drops in recent years.

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