Ghanaians can look forward to a merrier Christmas with cheaper fuel prices on the horizon. According to Gabriel Kumi, Board Chairman of the Chamber of Oil Marketing Companies (COMAC), global petroleum prices are falling, and consumers are set to benefit from mid-December.
Speaking on PM Express Business Edition, Kumi 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.”
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He provided specific decreases in prices, noting that diesel has seen a 10% decrease, petrol has dropped by 6%, and LPG has also seen a 1-1.5% decrease. The only major condition for these reductions to reflect in pump prices is the stability of the Ghanaian cedi.
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,” Kumi said.
He explained that this drop will take the country through Christmas, with the second pricing window likely to deliver further reductions.
Kumi expressed optimism about the prospects, stating, “Ghana is likely to see some decrease in the price of petroleum products.” He attributed this positive outlook to the global market trends, emphasizing that the decreases in petrol, diesel, and LPG prices are already evident.
With the festive season approaching, Ghanaians are hoping for relief at the pumps. If the cedi remains stable, consumers can expect to pay less for fuel, making their Christmas celebrations a bit brighter.
