The Chamber of Petroleum Consumers, COPEC, is projecting significant increases in petroleum prices from Thursday, October 1, 2026, with diesel expected to record the biggest jump.
COPEC projects petrol to increase by 5.21 percent to an average of GH¢17.78 per litre, from the current mean price of GH¢16.90.
Diesel is expected to rise by 22.91 percent to about GH¢22.42 per litre, from the current average of GH¢18.24.
COPEC attributes the projected increases to a sharp rise in global crude oil prices, which moved from 103 dollars and 7 cents to 124 dollars per barrel, as well as a 1.2 percent depreciation of the cedi against the US dollar.
For Liquefied Petroleum Gas, LPG, COPEC projects a price of GH¢15.68 per kilogram, following a 9.10 percent increase in its international FOB price.
The Chamber is, however, commending government for maintaining crude supply to local refineries and is urging it to accelerate the expansion of the Tema Oil Refinery to increase its refining capacity from the current 45,000 barrels per day to 100,000 barrels.
COPEC is also appealing to Oil Marketing Companies to absorb part of the expected increase by reducing their margins to cushion consumers from the impact of the higher prices.
Source: www.kumasimail.com
