Fuel Prices to Drop for Third Time in 2025 – COMC Predicts

The Chamber of Oil Marketing Companies (COMC) has forecasted a further reduction in fuel prices, marking the third such decline in 2025. This is attributed to falling global crude oil prices, a trend that could bring relief to consumers at the pump.

Good News for Drivers! Fuel Prices Expected to Drop Again in 2025 

Recent data from the Chamber indicates that crude oil prices have dropped from $75.49 per barrel to $71.94 per barrel, representing a 4.16% decline. The dip is largely due to concerns over escalating trade tensions under U.S. President Donald Trump’s administration, which have dampened global economic growth and weakened oil demand.

The COMC also reported significant reductions in refined product prices, including:

• Petrol: 9.22% drop (largest decline)
• Diesel: 6.37% drop
• LPG (Liquefied Petroleum Gas): 9.00% drop

Cedi’s Performance and Local Market Impact

On the local market, the Ghanaian cedi slightly depreciated against the US dollar in early March 2025. The exchange rate moved from 15.5793 GHS per USD on March 1 to 15.6118 GHS per USD by March 10, reflecting a 0.20% loss. However, in the past week, the cedi has remained relatively stable, showing only minor fluctuations.

Projected Fuel Price Reductions

Based on these trends, the COMC anticipates the following price reductions at the pump:

• Petrol: 4.5% decrease
• Diesel: 3.8% decrease
• LPG: 3.9% decrease

These adjustments align with the downward movement in international petroleum product prices, making fuel more affordable for Ghanaian consumers.

The Chamber stressed that these expected price cuts reflect global market conditions and the evolving oil industry landscape. If current trends persist, consumers can look forward to cheaper fuel prices in the coming weeks.