Motorists and consumers could face higher fuel and transport costs from Wednesday, September 16, as a surge in international crude oil and refined petroleum product prices puts fresh pressure on Ghana’s domestic pump prices.
The Chamber of Petroleum Consumers (COPEC) is projecting increases in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG) during the second pricing window of September.
Diesel is expected to record the biggest increase, with its price projected to rise by 10.23 per cent to about GH¢19.07 per litre, from the current mean price of GH¢17.30.
Petrol, meanwhile, could increase by 4.24 per cent to approximately GH¢16.26 per litre, compared with the current average of GH¢15.60.
LPG is also expected to record a significant increase, with COPEC projecting a price of about GH¢15.32 per kilogramme.
The projections are contained in COPEC’s analysis dated September 13, 2026, which attributes the expected increases primarily to rising international crude oil and refined petroleum product prices.
According to the Chamber, crude oil prices climbed from US$89.30 to US$103.07 per barrel during the period under review, creating significant upward pressure on the domestic petroleum market.
The increase in global prices comes despite a marginal strengthening of the Ghana cedi against the US dollar.
COPEC said the average interbank exchange rate improved from GH¢11.5166 to the dollar at the beginning of the pricing window to GH¢11.4830 at its close, representing a marginal appreciation of 0.29 per cent.
The modest currency gain, however, was insufficient to offset the steep rise in international petroleum prices.
DIESEL TAKES THE BIGGEST HIT
Diesel is expected to bear the brunt of the latest price pressure.
COPEC said the international Free on Board (FOB) price of diesel increased from US$1,250.50 to US$1,404.73 per metric tonne, representing a 12.33 per cent increase.
After factoring in the marginal appreciation of the cedi, the Chamber projects a retail pump price of GH¢19.07 per litre.
That would amount to an increase of GH¢1.77 per litre, or 10.23 per cent, over the current mean price.
The sharp rise in diesel prices could have wider implications for the cost of transportation and goods, given the heavy reliance of commercial transport operators, haulage companies, businesses and some agricultural activities on diesel.
PETROL ALSO MOVES UP
For petrol, COPEC said the international FOB price rose from US$1,136.50 to US$1,251.07 per metric tonne, representing a 10.08 per cent increase.
The Chamber projects that the corresponding retail price could rise to GH¢16.26 per litre, representing a 4.24 per cent increase from the current mean price.
Taking into account an estimated ±5 per cent variation, COPEC expects petrol prices to fall within a range of GH¢15.44 and GH¢17.08 per litre during the next pricing window.
The expected increases could place additional pressure on household budgets and businesses if they translate into higher transport fares and operating costs.
COPEC’s projections come as Ghana’s downstream petroleum market continues to respond to movements in global crude oil prices and exchange-rate developments.
While the recent marginal appreciation of the cedi provides some relief, the sharp increase in international petroleum prices remains the dominant factor in the latest pricing outlook.
The new prices are expected to take effect from Wednesday, September 16, subject to final pricing decisions by individual oil marketing companies.
THE BUSINESS MAIL
