Ghana fuel prices set for sharp increases as global crude surges
By Nana Karikari, Senior Global Affairs Correspondent Motorists across Ghana are expected to pay more for fuel from Wednesday, September 16. Petrol prices are expected to rise to an average of GH¢16.26 per litre. Diesel is expected to sell at GH¢19.07 per litre. The Chamber of Petroleum Consumers (COPEC) released these figures ahead of the […]
Motorists in Ghana will face higher fuel prices starting September 16, according to the Chamber of Petroleum Consumers (COPEC). Petrol prices will rise to an average of GH¢16.26 per litre, a 4.24% increase from the current average of GH¢15.60. Diesel will see a 10.23% hike, jumping from an average of GH¢17.30 to GH¢19.07 per litre. Liquefied Petroleum Gas (LPG) will also increase to GH¢15.32 per kilogramme.
The rise in prices is primarily due to global market pressures. International crude oil prices jumped from $89.30 to $103.07 per barrel, while refined product prices surged significantly. The international Free-On-Board (FOB) price for petrol increased by 10.08%, and for diesel by 12.33%. LPG saw a 16.45% increase in its international FOB price.
While a slight gain in the cedi against the US dollar offered minimal relief, COPEC urged the government to extend its subsidy intervention. They proposed a GH¢1 per litre relief for petrol consumers and maintained the GH¢2 per litre subsidy on diesel. COPEC also called on Oil Marketing Companies (OMCs) to consider reducing their margins to help cushion consumers against the price increases.
Energy analysts warn that persistent external shocks to refined petroleum products continue to test fiscal buffers in emerging West African economies, exposing structural vulnerabilities in domestic fuel supply chains.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
