The Chamber of Petroleum Consumers (COPEC) has projected marginal increases in the prices of petrol and diesel at fuel stations across Ghana from Thursday, July 16, 2026, during the second pricing window of July.
According to a statement signed by COPEC Executive Secretary, Duncan Amoah, the anticipated adjustments are driven by higher international Free on Board (FOB) prices for refined petroleum products, despite a decline in global crude oil prices.
COPEC’s analysis showed that global crude oil prices fell from US$78 per barrel to US$71.90 per barrel during the current pricing window. However, the Ghana cedi depreciated slightly against the US dollar, moving from an average interbank exchange rate of GH¢11.4333 to GH¢11.4970 per dollar, representing a 0.56 percent depreciation.
For petrol, the international FOB price increased by 5.4 percent, rising from US$920.34 per metric tonne to US$970.63 per metric tonne. Based on these market conditions, COPEC projects the average retail pump price to increase to GH¢13.84 per litre, representing a 4.65 percent increase over the current average price of GH¢13.23 per litre.
The consumer advocacy group estimates that petrol prices are likely to range between GH¢13.15 and GH¢14.53 per litre, depending on the pricing decisions of individual Oil Marketing Companies (OMCs).
Diesel is also expected to record an upward adjustment after its international FOB price climbed by 8.75 percent, from US$896.02 per metric tonne to US$974.40 per metric tonne.
COPEC projects an average retail price of GH¢14.91 per litre for diesel, although this figure is lower than the current average market price of GH¢15.42 per litre.
Within its projected margin of error, COPEC expects diesel prices at the pumps to range between GH¢14.16 and GH¢15.65 per litre.
Liquefied Petroleum Gas (LPG), however, is expected to experience a slight reduction in price. The international FOB price of LPG declined marginally by 0.52 percent, from US$548.50 per metric tonne to US$545.65 per metric tonne.
As a result, COPEC projects LPG to retail at an average price of GH¢9.96 per kilogram, with expected pump prices ranging between GH¢9.47 and GH¢10.46 per kilogram.
Despite projecting marginal increases for petrol and diesel, COPEC expressed optimism that Oil Marketing Companies would exercise restraint in adjusting pump prices.
“It is the expectation of COPEC that Oil Marketing Companies (OMCs) would respond positively by maintaining prices across board,” the statement said.
The projections form part of COPEC’s regular assessment of petroleum pricing trends based on movements in international fuel prices and the cedi-dollar exchange rate ahead of Ghana’s bi-weekly petroleum price review.
Source: www.kumasimail.com
