Fuel prices to fall this Christmas – Oil marketers assure

Gabriel Kumi, Board Chairman of the Chamber of Oil Marketing Companies (COMAC), says Ghanaians can expect cheaper fuel this Christmas as global fuel prices continue to fall.

According to him, current indicators show clear reductions in the prices of petrol, diesel and LPG, and consumers should begin to feel the relief from mid-December.

Speaking in an interview, he said: “Fortunately, Ghanaians are going to have a very good Christmas in terms of petroleum prices because the price of finished petroleum products is already going down”.

He explained that diesel prices have dropped by about 10%, petrol by around 6%, and LPG by roughly 1–1.5%.

Mr Kumi noted that the only major factor that could affect the reductions is the cedi’s stability.

“If the cedi is held in check, then we can be sure that on December 16, prices of petroleum products will generally go down,” he said.

He added that this reduction will cover the Christmas period, as the second pricing window, which includes the festive season, is also expected to bring further decreases.

Overall, Mr. Kumi stressed that Ghana is “likely to see some decrease in the price of petroleum products”.