Fuel prices rise as petrol, diesel set to become more expensive – COMAC

The Chamber of Oil Marketing Companies (COMAC) has forecasted that fuel prices in Ghana will rise starting September 1, 2026, primarily due to an increase in crude oil prices and the cost of refined petroleum products on the global market. In its outlook report for the period from September 1 to 16, 2026, COMAC anticipates a 4.80% hike in petrol prices and a 2.10% increase in diesel prices.

Petrol is expected to sell for approximately GH¢16.39 per litre, while diesel could reach GH¢17.60 per litre. Liquefied Petroleum Gas (LPG) is projected to see a minor decline of 0.93%, lowering its projected price to GH¢13.73 per kilogramme. The price hikes are linked to developments in the international oil market, with average crude oil prices climbing by 1.75% from US$90.53 to US$92.11 per barrel.

Additionally, refined petroleum product prices have risen, with petrol increasing by 8.86%, diesel up by 5.51%, and LPG by 3.31%. Although the Ghanaian cedi has strengthened by 3.64% against the US dollar, reaching GH¢11.3697 to US$1, this stronger currency is unlikely to entirely counterbalance the effect of higher global crude oil and refined product prices.

COMAC stated that government and industry measures will strive to temper the diesel price surge. Upon the new prices, which may be set as early as 6 a.m. on September 1, over 200 oil marketing companies in Ghana are anticipated to modify their pump prices, with some adjusting promptly and others waiting to observe market competition.