Fuel Prices Set to Decline Marginally at Pumps from January 16

Prices of petroleum products are expected to drop marginally at fuel stations across the country from Thursday, January 16, 2026.

The anticipated reduction is contained in the latest outlook report by the Chamber of Oil Marketing Companies (COMAC), which guides pricing decisions by oil marketing companies. The report has been sighted by masemtvgh.

This marks the second expected reduction in fuel prices in January 2026, largely driven by favourable developments on the international petroleum market and the recent appreciation of the Ghana cedi against the US dollar.

Expected Price Reductions

Data from COMAC indicates that petrol prices are projected to decline by between 1.26 percent and 2.30 percent, potentially bringing the pump price to about GH¢11.75 per litre.

Diesel prices are also expected to fall by up to 2.10 percent, with a litre likely to sell at approximately GH¢12.45.

Liquefied Petroleum Gas (LPG) is projected to record the highest reduction, declining by as much as 5.09 percent. This could result in a kilogram selling at around **GH¢12.30**.

Factors Driving the Decline

According to COMAC, the expected price reductions are mainly due to declining prices of finished petroleum products on the international market.

Although crude oil prices recorded a marginal increase, the report noted that global oversupply has led to price declines across major petroleum products.

For the second pricing window, petrol prices on the international market fell by 1.07 percent, diesel declined by 0.68 percent, while LPG dropped by 3.40 percent.

Additionally, the Ghana cedi has strengthened significantly against major trading currencies in the new year. For the January 16, 2026 pricing window, the cedi appreciated from GH¢11.52 to GH¢10.90, representing a 5.71 percent gain against the US dollar.

Databank Research has suggested that potential foreign exchange pressures on the cedi will be moderated by the gradual rollout of the US$1 billion allocation for January under the Bank of Ghana’s FX Intermediation Programme.

Market analysts have also pointed to the cedi’s strong performance over the past two weeks as a key contributor to the expected reduction in fuel prices.

Some oil marketing companies have told masemtvgh.com that they are preparing to adjust prices at the pumps in the coming days, while others say the review may take effect from next week.