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.
Today, August 17, the Chamber of Oil Marketing Companies (COMAC) predicts petrol prices may fall by up to 2.90%, dipping to approximately GH¢15.82 per litre, while diesel could surge by 1.39%, reaching around GH¢17.73 per litre. LPG is expected to decrease slightly by 0.93%, with a price tag of roughly GH¢16.21 per kilogram. According to the CEO of the Chamber of Petroleum Consumers (COPEC), most Oil Marketing Companies (OMCs) are anticipated to maintain their current prices.
Over 200 OMCs operate in Ghana, providing them with some leeway in pricing decisions within the regulatory framework. This price fluctuation is primarily due to international market factors. COMAC reports that global crude oil prices surged by 2.02% to US$90.41 per barrel in mid-August, driven by geopolitical tensions and potential supply interruptions near the Strait of Hormuz.
Refined petroleum product prices moved differently, with diesel prices up 2.86% and petrol and LPG prices down 5.46% and 2.54%, respectively. COMAC attributes the mixed trend to uncertainty over the US-Iran conflict and higher international crude oil costs. The Chamber also highlights that the cedi's recent appreciation might result in further price cuts for petroleum products if the pattern persists.
The cedi's value dropped by 1.20% against the US dollar from July 27 to August 11, 2026, but has since strengthened to 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, effective August 16. The petrol price floor has been cut from GH¢14.53 to GH¢13.92 per litre, a reduction of GH¢0.61 or 4.1%.
Diesel's price floor has fallen from GH¢16.97 to GH¢15.19, a drop of GH¢1.78 or 10.48%. The LPG price floor has been adjusted marginally from GH¢11.06 to GH¢10.98 per kilogram. The NPA has cautioned OMCs and LPG marketing firms against selling petroleum products below the set price floors during the pricing period. Despite these adjustments, indications suggest some OMCs might refrain from revising prices and keep their existing pump prices.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
