Some Oil Marketing Companies (OMCs) in Ghana have begun lowering petroleum prices at fuel stations, effective January 1, 2026, following industry forecasts and declining international oil prices.
Market leader Star Oil spearheaded the reduction, cutting petrol from GH¢11.35 to GH¢10.36 per litre and diesel from GH¢12.45 to GH¢11.96 per litre. Selected service stations have even offered lower prices as part of Star Oil’s discounting strategy.
Other major OMCs confirmed to Joy Business that they plan to adjust pump prices starting January 2, 2026, with over 200 operators expected to align their pricing based on industry trends.
Industry analysts say sustained recovery of the Ghana cedi could lead to further decreases. Diesel prices may drop by 3.77%, potentially selling at GH¢12.50 per litre, while LPG could fall by 2.19%, reaching approximately GH¢13.40 per kilogram.
According to the Chamber of Oil Marketing Companies, these reductions are driven largely by falling international crude and refined product prices: petrol down 9.17%, diesel down 8.11%, and LPG down 3.82%.
The cedi’s performance has also played a role. Between December 10 and December 31, 2025, the local currency appreciated 8.20%, rising from GH¢11.14 to GH¢10.50 against the US dollar, marking one of its strongest performances in recent months and a sharp improvement from GH¢14.84 in the same period last year.
Consumers can expect some relief at the pumps, with market observers predicting continued reductions if the cedi’s upward trend and international price declines persist.
