Board Chairman of the Chamber of Oil Marketing Companies (COMAC), Gabriel Kumi, says Ghanaians should expect cheaper fuel prices this Christmas as global petroleum product prices continue to fall.
According to him, market indicators already show clear reductions across petrol, diesel, and LPG, with consumers expected to feel the relief from mid-December.
Speaking on PM Express Business Edition, he said:
“Fortunately, Ghanaians are going to have a very good Christmas in terms of petroleum prices, because the indication is that the price of finished petroleum products is going down.”
Mr. Kumi revealed that diesel prices have dropped by about 10%, while petrol has fallen by roughly 6%. He added that LPG prices have also decreased by between 1% and 1.5%.
He noted that the key determining factor for further reductions is the stability of the cedi.
“If the cedi is held in check, then we can be sure that on the 16th of December, prices of petroleum products will generally go down,” he stated.
The COMAC Chair added that this downward trend is expected to continue through the Christmas season, as the second pricing window covering the festive period is projected to deliver additional reductions.
He emphasised that Ghana is “likely to see a decrease in the price of petroleum products” during the holiday period.
