Fuel prices set to drop for Christmas – Oil Marketers Board Chair assures

Board Chairman of the Chamber of Oil Marketing Companies, Gabriel Kumi, says Ghanaians should expect cheaper fuel this Christmas as global product prices continue to fall.

He says the indicators already point to clear reductions across petrol, diesel and LPG, and consumers will 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 already the indication is that the price of finished petroleum products is going down.”

He explained that diesel “has seen about 10% decrease,” and petrol “has already seen about 6% decrease.”

Mr Kumi added that LPG “has also seen some 1 – 1.5% decrease.”

The COMAC Chair said the only major condition is the stability of the cedi.

He said, “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.”

Mr Kumi said this drop will “take us through Christmas,” because the second pricing window, which covers the festive period, is likely to deliver further reductions.

He stressed that Ghana is “likely to see some decrease in the price of petroleum products.”