If you’ve been feeling the pinch at the pumps lately, we have some good news for you – fuel prices are set to witness their biggest drop of 8% today, May 16. This is according to the Chamber of Oil Marketing Companies (COMAC) Pricing Outlook for the second pricing window for the month of May 2025.
According to the pricing guidelines for this window, petrol is expected to decrease between 6.7% and 8.8% per liter, with prices potentially reaching as low as GH₵13.27. Diesel prices are also expected to fall by 4% to 6% per liter, making a litre potentially sell for GH₵14.40 or even lower. Liquefied Petroleum Gas prices could drop by 5.3%, meaning a kilogram could be sold for GH₵16.
The main reason for this significant drop in fuel prices is the cedi’s recent appreciation against the U.S dollar. The Ghanaian cedi has strengthened from GHS14.27 to GHS12.45, a gain of approximately 12.8% between May 1 and May 15, 2025. Additionally, crude oil prices and finished petroleum product prices have also seen declines during this period.
This marks the fifth consecutive pricing window with a downward trend in fuel prices. Petrol prices fell by 0.34%, LPG dropped by 2.70%, and gasoil recorded the highest decline of 3.54% among the products.
So, if you’ve been dreading filling up your tank, now might be the perfect time to do so. Take advantage of the lower fuel prices and enjoy the savings while they last. Remember, savings at the pump means more money in your pocket for other essentials or fun activities. Drive safe and happy
Ghanaflare.com
