Ghanaian consumers can expect significant relief at the pumps as the Chamber of Petroleum Consumers (COPEC) announces a substantial reduction in fuel prices, effective today, May 16, 2025.
According to COPEC’s Head of Research, Paul Eric Ofori, diesel prices will drop by 8.3% to 8.5%, translating to a decrease of about GH₵1 per liter. Petrol prices are expected to decrease by around 4%, while Liquefied Petroleum Gas (LPG) will record a 10% reduction.
“This is one of the most substantial single-window reductions in recent months,” Ofori stated. “Cumulatively, we have witnessed about a 25 to 26% reduction since the second window of February. And all the way consistently, we have witnessed a drop in prices,” he added.
However, Ofori expressed concerns over the slow pace of Oil Marketing Companies (OMCs) implementing price reductions. “We want to appeal to the OMCs. Just as they respond to increments here and there, when there is a decrease, why does it take so long for them to respond?” he queried.
COPEC is calling on the Association of Oil Marketing Companies to ensure its members promptly reflect the price decreases at the pumps. “I want to appeal to the OMCs, especially the association itself, to bring their members in line and in check to reduce their prices at the pump,” Ofori urged.