Motorists in Ghana could enjoy some relief at the pumps from November 16, following a sharp decline in international crude oil prices that could trigger a reduction in petrol prices during the next fuel pricing window.
The Chamber of Petroleum Consumers (COPEC) says the recent drop in crude oil prices by more than 12 to 14 per cent within 48 hours has raised the possibility of lower petrol prices in the second half of November.
However, COPEC Executive Secretary, Duncan Amoah, has cautioned that the decline in crude prices may not immediately reflect at the pumps, explaining that refined petroleum product prices typically take between six and seven days to respond to changes in the international crude oil market.
The next fuel pricing window is scheduled to open on November 16. Under the National Petroleum Authority’s (NPA) pricing guidelines, oil marketing companies are expected to use average free-on-board (FOB) prices recorded between October 27 and November 11 to determine their prices.
Mr Amoah explained that if the downward trend in crude oil prices continues and translates into lower refined petroleum product prices within the assessment period, consumers could see a reduction in petrol prices during the second pricing window of November.
“If all things are equal, and what we have observed since the mid-term elections in America happened is that you have seen prices consistently drop on the international market, our prediction or projection will be that for the second window of November, the cost of petrol, particularly, would have witnessed some reduction,” he said.
Speaking on Citi FM on Thursday, November 5, 2026, he noted that the timing of the decline in refined product prices would be crucial in determining whether the expected reductions would take effect in November or be delayed until December.
The anticipated adjustment comes amid growing expectations that the easing of crude oil prices on the international market could eventually translate into lower fuel costs for Ghanaian consumers.
Motorists will, however, have to wait for the outcome of the next pricing review to know whether the recent decline will result in cheaper petrol at the pumps.
