Prices of petroleum products are expected to decline slightly at the pumps starting tomorrow, January 16, 2026, according to the latest outlook from the Chamber of Oil Marketing Companies (COMAC).
This marks the second reduction in fuel prices in January, driven by favourable developments in the international market and the appreciation of the Ghana cedi against the US dollar.
Expected Price Adjustments
-
Petrol: Projected to fall by 1.26% to 2.30%, bringing the litre price to approximately GH¢11.75.
-
Diesel: Expected to drop by up to 2.10%, with a litre selling at about GH¢12.45.
-
Liquefied Petroleum Gas (LPG): Likely to decline by up to 5.09%, resulting in a kilogram price of roughly GH¢12.30.
Reasons for the Decline
COMAC attributed the reductions mainly to falling international petroleum product prices, despite a marginal increase in crude oil costs. Global oversupply has contributed to lower prices for refined products, with petrol down 1.07%, diesel 0.68%, and LPG 3.40% in the second pricing window.
The Ghana cedi has also strengthened against major trading currencies, appreciating from GH¢11.52 to GH¢10.90, a 5.71% gain, which has helped mitigate the cost of imports. Databank Research notes that foreign exchange pressures are expected to remain limited due to the gradual release of USD 1 billion under the Bank of Ghana’s FX Intermediation Programme for January.
Some market analysts have suggested that the cedi’s recent performance has been a key driver behind the expected drop in fuel prices.
Oil marketing companies have indicated that pump price adjustments could take effect in the coming days, with some reviewing prices immediately and others planning to implement changes next week.