Petrol To Rise To GH¢16.26, Diesel GH¢19.07 – COPEC

The Chamber of Petroleum Consumers (COPEC) is forecasting a rise in the prices of petrol, diesel, and Liquefied Petroleum Gas (LPG) in Ghana, effective from September 16, 2026. Petrol is expected to see an increase of 4.24 percent, from GH¢15.60 to GH¢16.26 per litre, while diesel will experience a more significant surge of 10.23 percent, moving from GH¢17.30 to GH¢19.07 per litre.

LPG prices are projected to rise by 16.45 percent, from GH¢611.75 to GH¢712.43 per metric tonne, resulting in a retail price of GH¢15.32 per kilogramme. COPEC's Executive Secretary, Duncan Amoah, attributes these price hikes primarily to the rise in international petroleum prices, which have climbed from $89.30 to $103.07 per barrel.

He also notes that the cedi has appreciated slightly against the US dollar, which may have contributed to the price increases. Despite the marginal improvement in the cedi's value, COPEC's calculations indicate that the retail prices will still increase. Amoah has called on the government to extend its subsidy intervention and suggested a GH¢1 per litre relief for petrol and the existing GH¢2 per litre relief for diesel until international petroleum benchmarks normalize.

He also urged the government to expedite the expansion of the Tema Oil Refinery (TOR) to increase domestic refining capacity, currently at 45,000 barrels per day, to 100,000 barrels per day. This would help reduce the nation's reliance on imported finished petroleum products and potentially mitigate the impact of the rising prices on consumers.