Oil Marketing Companies (OMCs) are expected to start increasing fuel prices at the pumps from today, November 17.
This follows the routine two-week review of petroleum product prices and new pricing-outlook data from the Chamber of Petroleum Consumers (COPEC), which projects fuel prices to rise by between 1% and 4% per litre.
While some OMCs plan to adjust their prices immediately, others say they will first monitor how competitors respond.
According to COPEC’s Pricing Outlook Report, the expected increases are mainly due to rising crude oil prices on the international market.
Crude oil prices rose by 2.95% in mid-November 2025 from $62.82 to $64.67 per barrel, driven by heightened risks from global tariff tensions, the U.S. government shutdown, and new sanctions on Russian oil.
As a result, major petroleum products also recorded significant increases:
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Petrol: up 3.85%
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Diesel: up 12%
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LPG: up 6.97%
Although the cedi has appreciated recently, the gains were not strong enough to prevent these increases.
Some OMCs noted that without the cedi’s improved performance, fuel prices would have gone up even more.
COPEC’s report shows that during the pricing window starting November 16, 2025, the cedi strengthened from GH¢11.12 to GH¢10.94, a 1.57% gain.
However, Databank Research expects some short-term pressure on the cedi due to reduced foreign exchange supply.
This is despite an anticipated $300 million IMF inflow in December 2025, improved investor confidence linked to better credit ratings, and signs that the Bank of Ghana may reduce its support for the forex market.
Industry data suggests the following price changes:
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Petrol may rise between 1.18% and 3.54%, reaching about GH¢13.15 per litre.
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Diesel may increase by up to 3.82%, pushing its price to around GH¢13.60 per litre.
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LPG prices are expected to go up between 1.32% and 3.53%.
COPEC also notes that during the November 2025 first pricing period, some companies reduced fuel prices by as much as 12%, 7%, and as low as 4% per litre.
The average reduction of 6.96% indicates that Ghana experienced one of the largest fuel price drops this year and possibly in recent times.
