Petrol prices to drop today with diesel up in mixed pump price review
Petrol prices are expected to fall while diesel prices could rise from today, August 17, in a mixed review of petroleum prices at the pumps.
Fuel prices in Ghana are set to change on August 17, 2026, with petrol prices potentially falling and diesel prices possibly increasing. According to the Chamber of Oil Marketing Companies (COMAC), petrol could see a decrease of up to 2.90%, dropping to around GH¢15.82 per litre. Diesel prices, on the other hand, are projected to rise by 1.39%, potentially reaching GH¢17.73 per litre. Liquefied Petroleum Gas (LPG) prices are expected to dip by a small 0.93%, with a kilogramme likely selling at GH¢16.21.
The Chamber of Petroleum Consumers (COPEC) predicts that most Oil Marketing Companies (OMCs) might keep their prices stable at the pumps. There are over 200 OMCs operating in Ghana, which gives them some room to adjust prices within regulations. The price changes are primarily influenced by international market conditions, with crude oil prices rising by 2.02% to $90.41 per barrel in mid-August due to geopolitical risks and potential supply issues around the Strait of Hormuz.
Refined petroleum products saw varying price movements, with diesel up 2.86% and petrol and LPG prices falling by 5.46% and 2.54%, respectively.
COMAC attributes the mixed market trend to the uncertainty surrounding the US-Iran dispute and higher international crude oil prices. The government and industry are expected to intervene to mitigate the impact of higher diesel prices at the pumps. Additionally, the cedi's recent appreciation might lead to further price reductions if the trend continues.
The cedi depreciated by 1.20% against the US dollar between July 27 and August 11, 2026, but has since strengthened, currently trading at GH¢10.9855 per dollar on August 14. The National Petroleum Authority (NPA) has lowered its price floor for the second pricing window of August, beginning on August 16. The petrol price floor has been reduced from GH¢14.53 to GH¢13.92 per litre, a 4.1% decrease, while the diesel price floor has fallen from GH¢16.97 to GH¢15.19, a 10.48% reduction.
The LPG price floor has been lowered slightly from GH¢11.06 to GH¢10.98 per kilogramme. The NPA has cautioned OMCs and LPG marketers not to sell petroleum products below the approved price floors during the pricing window. Despite these adjustments, some OMCs may decide not to change their prices and maintain current pump prices.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
