COPEC projects petrol price to fall; diesel to go up on November 1 pricing window

The Chamber of Petroleum Consumers (COPEC) anticipates a decrease in petrol prices and an increase in diesel prices starting November 1, 2026. According to their forecast, petrol prices will drop by 1.71 percent, while diesel prices will rise by 4.07 percent. The Free On Board price of petrol has decreased from $1255.05 per Metric Tonne to $1199.16 per Metric Tonne, marking a -4.45% change.

This drop, coupled with a currency appreciation of about 0.6%, is expected to result in a retail price of Ghc16.72 per litre for petrol, a 1.71% decrease from the current mean price of Ghc17.02 per litre. Petrol prices are projected to range between GHS15.89 and GHS17.57 per litre, within a ±5% range of COPEC's projection. On the other hand, the Free On Board price of diesel has increased marginally from $1414.78 per Metric Tonne to $1453.07, a 2.71% change.

This increase, combined with a 0.6% currency appreciation, is forecasted to result in a retail pump price for diesel of Ghc19.15 per litre, a 4.07% rise from the current mean price of Ghc18.40 per litre. Diesel prices are expected to range from Ghc18.19 to Ghc20.11 per litre, within a ±5% range of COPEC's projection.