Fuel Prices Set for Slight Increase from Today, December 1 — COMAC

Fuel prices at the pumps are expected to rise marginally from today, December 1, according to the latest pricing outlook from the Chamber of Oil Marketing Companies (COMAC).

The projection, captured in COMAC’s December review and sighted by JoyBusiness, shows upward adjustments across petrol, diesel, and LPG.

Expected Adjustments

• Petrol: Up by 1.97% – 3.30%, pushing the average pump price to about GH¢12.91 per litre.
• Diesel: Up by 2.85% – 5.15%, with prices expected to hit around GH¢13.37 per litre.
• LPG: Up by as much as 3.10% per kilogram, potentially reaching GH¢13.80 per kilogram.

Drivers of the Increase

COMAC attributes the expected hikes to:

Higher international market prices for finished petroleum products in recent weeks.

• Petrol prices increased by 1.26%
• Diesel by 2.28%
• LPG by 0.07%

Pressure on the Ghana cedi, which depreciated from GH¢10.94 to GH¢11.14 within two weeks—representing a 1.76% decline.

The chamber noted that diesel prices could rise further in the coming days due to uncertainty over product availability globally.

Market analysts say the cedi’s recent weakness is being driven by increased corporate forex demand and typical end-of-year pressures.

Industry Perspective

Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has warned that the outlook for fuel prices in the coming weeks will heavily depend on how well the cedi performs.