Average diesel price likely to break all-time record in October, petroleum analyst says

The cost of Liquefied Petroleum Gas (LPG) in Ghana is expected to rise by 18.5 per cent from October 16, 2026, despite motorists potentially benefiting from lower petrol and diesel prices, according to forecasts by the Chamber of Oil Marketing Companies (COMAC). Petrol prices may decrease by 1.67 per cent, while diesel prices could fall by 3.32 per cent in the second pricing window of October.

This projection presents a mixed outlook for consumers, with higher cooking fuel costs for households and potential savings for motorists. COMAC had anticipated price increases for all three petroleum products ahead of the October 1 pricing window, but many Oil Marketing Companies (OMCs) held onto their current pump prices. The anticipated easing of petrol and diesel prices could be offset by the significant increase in LPG costs, potentially impacting households' affordability and consumption of cooking fuel.

It's important to note that these projections are indicative and actual prices will depend on individual OMCs' pricing decisions. The changes are set to take effect from October 16, subject to adjustments by fuel retailers. Consumers are encouraged to stay informed about updates on pump prices from their preferred fuel stations as the new pricing window commences.