More Oil Marketing Companies (OMCs) have begun reducing fuel prices at the pumps, in line with earlier assurances that adjustments would be made before close of business on Friday, December 19, 2025.
Market leader Star Oil has cut prices across its petroleum products at selected service stations nationwide.
A litre of petrol has been reduced from GH¢11.97 as quoted on November 18, 2025, to GH¢10.97. Diesel has also seen a price cut, dropping from GH¢12.74 to GH¢11.79 per litre.
These prices apply to selected outlets as part of Star Oil’s discounted pricing scheme. However, at some stations, petrol is selling at GH¢11.35 per litre, while diesel is selling at GH¢12.45 per litre.
Star Oil did not review its prices during the December 1, 2025, pricing window, making the latest reductions an adjustment from the November 18, 2025, price levels.
Another major player, GOIL, also reviewed prices on December 19, 2025. A litre of petrol is now selling at GH¢11.99, with diesel priced at GH¢12.94.
Vivo Energy Ghana (Shell) adjusted prices a day earlier, on December 18, 2025. Petrol was reduced from GH¢12.69 to GH¢12.50 per litre, while diesel dropped from GH¢13.22 to GH¢12.99.
Petrosol has also cut prices, with both petrol and diesel now selling at GH¢12.48 per litre.
Several OMCs have told JOYBUSINESS they will further reduce prices of petroleum products by the close of business today. Some have also indicated that prices could be reviewed again in the next pricing window from January 1, 2026, if current market conditions are sustained.
Projected Reviews for Second Pricing Window
The Chamber of Oil Marketing Companies, in its outlook report, said prices of petroleum products could decline by up to 4 per cent per litre in the second pricing window for December.
Petrol prices are expected to fall by between 1.64 per cent and 3.89 per cent, potentially bringing the pump price to about GH¢12.90 per litre.
Diesel could see a reduction of up to 4.59 per cent, with a litre selling at approximately GH¢13.20.
Liquefied Petroleum Gas (LPG) is also projected to decline by up to 2.16 per cent, bringing the price to about GH¢14 per kilogram.
Reasons for Price Reduction
The Chamber attributed the projected price cuts to declining international prices for finished petroleum products.
The report noted that despite a marginal increase in crude oil prices, major petroleum products recorded declines mainly due to oversupply in the global market.
Petrol prices fell by 6.5 per cent, diesel dropped sharply by 11.67 per cent, while LPG eased by 0.22 per cent.
During the same period, the Ghana cedi depreciated slightly against the US dollar, weakening from GH¢11.14 to GH¢11.43.
According to the Chamber, the price reductions also reflect seasonal pressures associated with the festive period. However, limited foreign exchange support constrained further appreciation of the cedi.
Some market analysts have told JOYBUSINESS that government may need to do more to firmly stabilise the cedi to ensure that the recent fuel price reductions are sustained.