Consumers can expect a slight relief at the fuel pumps as petroleum prices are set to drop marginally across the country today.

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The anticipated adjustments follow the latest pricing outlook report that informs pricing decisions by Oil Marketing Companies (OMCs).

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Petrol is projected to go down by 1.5 percent, bringing the cost of a litre to GH₵14.88. Diesel will also see a slight reduction of 0.3 percent, now expected to sell at GH₵15.50 per litre. Liquefied Petroleum Gas (LPG) is set to follow the same trend, with a 0.3 percent drop, pricing a kilogram at GH₵17.45.

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Should the more than 100 OMCs implement the revised prices, this will mark the fifth straight downward adjustment in petroleum prices since February 2025.

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The steady decline has been largely attributed to the drop in global crude oil prices, which have dipped from around US$72 per barrel to about US$64 in recent weeks. In addition to the fall in crude prices, finished petroleum products on the global market have also become cheaper. Diesel prices have decreased by 3.72 percent, while LPG has experienced a significant 9.61 percent decline.

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Despite the reductions, there has been little movement on the transport fare front. Although falling fuel prices often prompt calls for lower fares, the Ghana Private Road Transport Union (GPRTU) maintains that other variables such as insurance costs and spare parts prices must also be considered.

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The union has indicated that it would only consider fare reductions if fuel prices drop further—to around GH₵12 per litre.

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Nevertheless, the continued dip in fuel prices is expected to ease pressure on the cost of living, offering some relief to households and businesses alike.

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