Fuel prices set to be reduced by a significant margin from Nov. 1

Both factors, the report said, played “an instrumental role in the projected price decreases at the pumps.”

The Chamber noted that from the October 16, 2025, pricing window, the cedi appreciated from GH¢12.63 to GH¢11.21 per dollar, marking an 11.22% gain.

This rebound nearly offsets the 13.33% depreciation recorded in the third quarter, signalling renewed investor confidence and improved currency stability.

Some analysts attribute the cedi’s rally to the Bank of Ghana’s shift to spot forex sales, which enhanced market efficiency and improved dollar liquidity.

On the international front, crude oil prices fell to a five-month low, dropping sharply by 6.49% to $62.82 per barrel, driven by escalating US-China trade tensions and concerns over a potential supply glut in the last quarter of 2025.

Prices of finished petroleum products also declined, with petrol, diesel, and LPG recording respective drops of -3.30%, -2.48%, and -2.35%.

Market Impact

The expected price cuts are likely to dampen calls by driver unions for an increase in transport fares, which have gained momentum in recent weeks.

The reductions could also help keep inflation within single digits in the coming months, as lower fuel costs ease the prices of food, goods, and services — ultimately reducing the cost of living nationwide.