Fuel prices are expected to rise across pumps from Saturday, November 16, 2025, the Chamber of Petroleum Consumers (COPEC) has announced, citing increasing global crude prices and the weakening cedi.
In a statement signed by its Executive Secretary, Duncan Amoah, COPEC projected that petrol prices will increase by approximately 3.38%, rising from an average of GHS 12.18 to GHS 12.59 per litre. Diesel, the statement noted, could see a much sharper increase of 9.81%, rising from GHS 12.49 to GHS 13.71 per litre.
LPG consumers are also expected to feel the pinch, with prices projected to increase by 1.97%, reaching GHS 11.87 per kilogram.
COPEC explained that the expected adjustments reflect international market trends and currency pressures affecting petroleum import costs. The Chamber added that the actual increases may differ slightly at various pumps, but would likely fall within a five percent margin of the projected figures.
Duncan Amoah urged Oil Marketing Companies (OMCs) to cushion consumers where possible. “We appeal to OMCs to absorb part of the increases to avoid burdening consumers with steep hikes,” he said.
The formula for fuel pricing in Ghana is Ex-Pump Price = Ex-Refinery Price + Taxes, Levies, and Margins. The ex-refinery price is determined by the Cost, Insurance, and Freight (CIF) price of fuel, the exchange rate, and supplier premiums. In contrast, the total ex-pump price includes a variety of government taxes, levies, and margins set by the National Petroleum Authority (NPA).
Formula breakdown
Ex-Refinery Price = Cost, Insurance, and Freight (CIF) Price + Supplier’s Premium. Ex-Pump Price = Ex-Refinery Price + Taxes + Levies + Distribution Margins + Price Stabilization Margin
Key components
Cost, Insurance, and Freight (CIF): The international market price of the fuel plus the cost of insuring and shipping it to Ghana.
Exchange Rate: The exchange rate between the Ghana Cedi and the US Dollar is used to convert the CIF price to a local currency value.
Supplier’s Premium: A premium charged by Bulk Import, Distribution, and Export Companies (BIDECs) to cover their import costs and margins.
Taxes and Levies: Various government taxes and levies, such as the Energy Debt Recovery Levy and the Road Fund Levy, are applied to the price.
The Chamber of Petroleum Consumers (COPEC) Ghana is a consumer advocacy group that works to protect the interests of petroleum consumers in Ghana. It is an active and vocal organization that comments regularly on the country’s petroleum sector, particularly on fuel prices and policies affecting consumers. Duncan Amoah is the Executive Secretary of COPEC Ghana.
COPEC’s primary functions
Consumer advocacy: The chamber regularly issues statements and holds press conferences to alert the public about projected changes in fuel prices. These forecasts are based on global crude oil prices, exchange rate dynamics, and other market factors.
Policy recommendations: COPEC actively engages with the Ghanaian government and regulatory bodies, such as the National Petroleum Authority (NPA), to advocate for policy changes that would benefit consumers. This includes urging tax reductions, the strategic management of national oil resources, and capping fuel price increments by Oil Marketing Companies (OMCs).
Sector analysis: COPEC provides a critical analysis of the downstream petroleum sector. It has publicly lamented the government’s neglect of the Tema Oil Refinery (TOR) and raised concerns about the management of the Bulk Oil Storage and Transportation Company (BOST).
Monitoring and alerts: The chamber monitors market activities and dispels misinformation. For example, it has issued alerts to the public to disregard audio recordings that falsely accused some OMCs of dispensing fuel at levels below the accepted standards.
Margins: A combination of margins, including distribution margins and a price stabilization margin to ensure price uniformity across the country, is added to the price.
Pricing Windows: Fuel prices are reviewed twice a month, based on a two-week average of world market prices and the exchange rate, according to a report by the National Petroleum Authority.
Deregulation: Most petroleum products (petrol, diesel, LPG, etc.) are deregulated, meaning that Oil Marketing Companies (OMCs) can set their own prices based on the NPA’s formula.
Regulation: Some products like Premix Fuel and Residual Fuel Oil (RFO) remain regulated and are subsidized due to their importance to the fishing and manufacturing sectors, as noted by Goodpappa Energy and the National Petroleum Authority.
