Ghanaians are set to benefit from lower fuel prices this Christmas, according to Gabriel Kumi, Board Chairman of the Chamber of Oil Marketing Companie
Ghanaians are set to benefit from lower fuel prices this Christmas, according to Gabriel Kumi, Board Chairman of the Chamber of Oil Marketing Companies (COMAC).
The announcement comes amid a sustained decline in global petroleum product prices, which is expected to translate into relief for consumers.
Speaking on PM Express Business Edition, Mr Kumi said that indicators already point to reductions across petrol, diesel, and LPG, with consumers likely to feel the effects from mid-December.
“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 noted.
Mr Kumi provided specifics on the expected decreases:
- Diesel: Approximately 10% decline
- Petrol: Around 6% decline
- LPG: Between 1% and 1.5% decline
He emphasised that these reductions are contingent on the stability of the Ghanaian cedi, noting that fluctuations in the local currency could affect final retail prices.
“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 explained.
The COMAC Chairman also highlighted that the anticipated price drop is expected to last through the Christmas period, as the second pricing window, which covers the festive season, is likely to bring further reductions.
“This drop will take us through Christmas because the second pricing window is likely to deliver additional decreases. Ghana is likely to see some decrease in the price of petroleum products,” he said.
The announcement comes as welcome news for households and businesses facing higher living costs, offering some financial relief during the holiday season.
COMMENTS