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Fuel prices are expected to increase in the next pricing window as the cedi continues to depreciate against the US dollar and international crude oil prices record significant gains, potentially ending January’s run of pump price reductions.
If the projected adjustments take effect, it will mark the first fuel price hike in 2026, following consistent price declines recorded across petrol, diesel, and LPG in January.
Projections from the Chamber of Oil Marketing Companies (COMAC) indicate that petrol prices could rise by about 2.10 percent, diesel by 5.10 percent, and LPG by 1.09 percent. The anticipated increases are largely attributed to rising global petroleum product prices and the weakening performance of the cedi.
Within the current pricing window, international market prices have already risen, with petrol up by 2.12 percent, diesel by 6.73 percent, and LPG by 3.66 percent. These increases reflect a sharp rise in crude oil prices, which climbed from about $62.50 per barrel to $67.40 per barrel in early February.
The cedi also depreciated slightly from GHS10.90 to GHS10.98 against the US dollar, representing a decline of approximately 0.77 percent.
At the pumps, petrol is projected to sell at around GHS11.48 per litre, while diesel, which is expected to record the highest increase, could rise to about GHS12.77 per litre. LPG prices are also forecast to increase to roughly GHS13.50 per kilogram.
However, COMAC notes that strong competition among oil marketing companies and prevailing market dynamics could compel some marketers to absorb part of the increases and maintain existing pump prices.
