The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices in Ghana will decrease starting today, Friday, May 16, 2025, with a notable drop in diesel prices.
During an appearance on Channel One TV’s Breakfast Daily, COPEC’s Head of Research, Paul Eric Ofori, revealed that diesel prices will fall by approximately 8.3% to 8.5%, marking one of the largest single price reductions in recent months.
“Since the second pricing window in February, we’ve seen about a 25% to 26% drop in fuel prices overall,” Ofori stated.
In addition to diesel, petrol prices will also decrease by around 4%, and Liquefied Petroleum Gas (LPG) will see a reduction of about 10%. Ofori noted that diesel is expected to drop by at least 1 Ghana cedi, providing much-needed relief to Ghanaians facing high fuel costs.
However, Ofori expressed concern about the slow response of fuel stations in adjusting their prices. He highlighted that Oil Marketing Companies (OMCs) tend to raise prices quickly but are sluggish to lower them when costs decrease.
“We want to appeal to the OMCs. When prices go up, they respond quickly. So when prices go down, why the delay?” he questioned.
Ofori urged the Association of Oil Marketing Companies to ensure that all members promptly implement the new lower prices. “We are urging the association to step in and make sure all members reduce their pump prices as expected,” he concluded.
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