Fuel prices are expected to move in different directions at filling stations from Sunday, August 16, 2026, with petrol and LPG projected to record reductions while diesel prices are likely to increase.
Data from the Chamber of Oil Marketing Companies (COMAC) indicates that petrol prices could fall by up to 2.90%, bringing the expected pump price to about GH¢15.82 per litre.
Diesel, however, is projected to increase by 1.39%, with the price potentially reaching GH¢17.73 per litre.
LPG is also expected to record a marginal reduction, with the price estimated at about GH¢16.21 per kilogramme, representing a decrease of approximately GH¢0.93.
International market pressures
COMAC attributed the mixed price movement to developments in the international petroleum market.
The Chamber said average crude oil prices increased by 2.02% to US$90.41 per barrel in mid-August, driven by geopolitical risks and potential supply disruptions around the Strait of Hormuz.
The performance of refined petroleum products was mixed, with diesel recording a 2.86% increase, while petrol and LPG prices declined by 5.46% and 2.54%, respectively.
COMAC said uncertainty surrounding the US-Iran dispute, coupled with higher international crude prices, continues to influence local pump prices.
Cedi appreciation could ease pressure
The Chamber noted that the Ghana cedi depreciated by 1.20% to GH¢11.7995 to the US dollar based on Bank Averages between July 27 and August 11.
However, the cedi has since strengthened, with the Bank of Ghana rate standing at about GH¢10.9855 per US dollar as of August 14.
COMAC said sustained appreciation of the cedi could provide further relief at the pumps in subsequent pricing windows.
Government-industry interventions are also expected to moderate the impact of the projected increase in diesel prices.
NPA cuts price floors
The National Petroleum Authority (NPA) has also reduced the price floors for the second petroleum pricing window of August, effective August 16.
The petrol price floor has been reduced from GH¢14.53 to GH¢13.92 per litre, representing a reduction of GH¢0.61, or more than 4%.
For diesel, the price floor has fallen from GH¢16.97 to GH¢15.19 per litre, a reduction of GH¢1.78 or about 10.48%.
The LPG price floor has also been reduced slightly, from GH¢11.06 to GH¢10.98.
The NPA has reminded Oil Marketing Companies and LPG Marketing Companies not to sell petroleum products below the approved price floors during the pricing window.
Despite the adjustments, some OMCs may choose to keep their existing pump prices unchanged, depending on their current pricing structures and margins.
