Fuel prices set to witness mixed reviews at pumps from August 16, 2026

Fuel prices are forecasted to fluctuate at the pumps starting August 16, 2026. According to the Chamber of Oil Marketing Companies (COMAC), petrol prices are anticipated to decrease by up to 2.90%, potentially reaching GH¢15.82 per litre. Diesel prices, however, are expected to rise by 1.39%, with a litre likely to be sold for GH¢17.73. Liquefied Petroleum Gas (LPG) prices will be marginally reduced by GH¢0.93, potentially selling for GH¢16.21 per kilogramme.

The mixed reviews in fuel prices are attributed to crude oil prices rising 2.02% to US$90.41 per barrel in mid-August 2026, driven by geopolitical risks and potential supply disruptions around the Strait of Hormuz. Diesel prices are projected to experience the strongest growth at 2.86%, while petrol and LPG prices are expected to decline by 5.46% and 2.54%, respectively.

The government and industry intervention will aim to mitigate the full impact of higher diesel prices, while the recent Ghana cedi appreciation could lead to further price reductions if sustained. The Ghana cedi has depreciated by 1.20% to GH¢11.7995 per US$ between July 27 and August 11, 2026, but has since strengthened, currently selling at GH¢10.9855 per US$ on August 14, 2026.

The National Petroleum Authority (NPA) has reduced the Price Floor for the second pricing window of the month, starting from August 16, 2026. The price floor for petrol has been lowered from GH¢14.53 to GH¢13.92 per litre, a reduction of more than 4.1%. Diesel prices have also been cut from GH¢16.97 to GH¢15.19, a decrease of GH¢ 1.78, or approximately 10.48%.

Additionally, LPG prices have been reduced from GH¢11.06 to GH¢10.98 per kilogramme. The NPA has warned all industry participants to adhere to the approved price floor during the pricing window, though some may choose not to review their prices or maintain them unchanged.