The Chamber of Oil Marketing Companies (COMAC) has projected increases in fuel prices in its latest pricing outlook for April 16–30, 2026, citing escalating global oil market disruptions and supply constraints.
According to COMAC, international crude oil prices surged by 18.37 percent, rising from $109.66 per barrel to $129.80 per barrel within the latest pricing window. The sharp increase has been attributed largely to tensions in the Middle East, particularly disruptions in the Strait of Hormuz, a critical global oil transit route.
The report indicates that restrictions on oil flows and sustained attacks on energy infrastructure in the region have significantly tightened global supply. As a result, global oil supply dropped by 10.1 million barrels per day in March—the largest disruption on record—while demand also showed signs of contraction.
COMAC noted that petroleum product prices have continued to rise for the seventh consecutive pricing window since January 2026. Liquefied petroleum gas (LPG) recorded the highest increase at 9.38 percent, followed by diesel at 6.98 percent and petrol at 2.77 percent.
Despite these increases, projected ex-pump prices in Ghana are expected to rise moderately due to government intervention. Petrol prices are forecast to increase between 1.93 percent and 3.01 percent, while LPG prices may rise marginally by up to 0.90 percent. Diesel prices, however, are expected to decline between 1.20 percent and 3.86 percent.
COMAC attributed the relatively moderate changes to a coordinated effort between government and industry players to reduce taxes, levies, and regulatory margins on petroleum products to cushion consumers against rising global prices.
The report also highlighted a slight depreciation of the Ghanaian cedi, which weakened by 0.74 percent against the US dollar during the pricing window, further contributing to upward price pressures.
Meanwhile, national consumption of petroleum products increased by 13.37 percent year-on-year between January and February 2026, reflecting sustained economic activity and rising demand across key sectors.
COMAC emphasized that the outlook for global oil prices remains uncertain, with the reopening of the Strait of Hormuz seen as a critical factor in stabilizing supply and easing price pressures.
The chamber urged stakeholders to monitor developments closely, warning that without ongoing interventions, fuel prices could rise more sharply in the coming months.
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Source: www.kumasimail.com
