Petrol, Diesel Prices to Drop from Nov. 16 as LPG Skyrockets by Up to 24.58% – COMAC

Accra, Ghana — There is a mix of relief and shock on the horizon for Ghanaian consumers this festive season. The Chamber of Oil Marketing Companies (COMAC) has released its highly anticipated pricing outlook for the second half of November, revealing a rare divergence in the petroleum market: while motorists can look forward to cheaper fuel at the pumps, households relying on cooking gas are about to face a significant financial squeeze.

According to COMAC’s projections for the November 16–30 pricing window, petrol and diesel prices are set to decline, offering a much-needed reprieve for transport operators and drivers. Petrol prices are expected to drop by a notable margin ranging between 4.46% and 8.23%, while diesel is projected to see a more modest reduction of 1.79% to 4.42% . This downward trend is largely attributed to a stabilization in the cedi and a slowdown in the depreciation of the local currency against the US dollar, alongside favorable international refined product benchmarks.

However, the good news at the fuel pumps is starkly contrasted by the situation in the cooking gas sector. COMAC projects a staggering increase in Liquefied Petroleum Gas (LPG) prices, with hikes ranging from 21.10% to a devastating 24.58% . This sharp spike is not necessarily reflective of current market fundamentals but is rather the result of a “delayed pass-through” mechanism. According to industry insiders, the current tender arrangement has forced marketers to finally absorb and reflect the higher international prices that were incurred during the previous pricing window, creating a lag effect that is now hitting consumers with full force .

For the average Ghanaian household, this dual-edged sword presents a complex budgeting challenge. While the cost of transporting goods and commuting to work may ease slightly—potentially leading to a fractional decrease in transport fares—the cost of preparing meals at home is set to soar. A family that previously spent GH¢100 to refill a gas cylinder could now face an additional GH¢25 or more, depending on the exact percentage increase applied by their local retailer.

The National Petroleum Authority (NPA) has also adjusted its floor prices to reflect the anticipated market movements, with the petrol floor dropping significantly to GH¢13.69 per litre, while the LPG floor has been adjusted upward . As oil marketing companies prepare to implement these changes starting Monday, November 16, consumers are advised to brace for a period of “mixed fortunes”—enjoying the savings on the road while tightening their belts in the kitchen.

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