Oil Marketing Companies (OMCs) are expected to begin increasing fuel prices at the pumps from today, November 17.
This development follows the routine two-week review of petroleum product prices and pricing-outlook data from the Chamber of Oil Marketing Companies (COPEC), which projects a 1% to 4% increase per litre across products.
Some OMCs told JOYBUSINESS they will adjust prices immediately, while others say they will observe market competition before responding.
According to COPEC’s Pricing Outlook Report, the expected increases are driven mainly by rising crude oil prices on the international market.
Crude prices climbed by 2.95% in mid-November 2025 — from $62.82 to $64.67 per barrel — amid elevated forecast risks linked to global tariff tensions, the U.S. government shutdown and new sanctions on Russian oil.
Reflecting this trend, major petroleum products also saw strong increases:
- Petrol rose by 3.85%
- Diesel surged by 12%
- LPG increased by 6.97%
Even with the cedi’s recent appreciation, the currency’s gains were not strong enough to prevent upward adjustments at the pumps.
Some OMCs told JOYBUSINESS that without the cedi’s improved performance, fuel prices could have risen far more sharply than current projections.
COPEC’s report shows that during the pricing window starting November 16, 2025, the cedi appreciated from GH¢11.12 to GH¢10.94 — a 1.57% gain.
NKONKONSA.com
