Fuel prices in Ghana are expected to increase during the first half of October 2026, following a sharp rise in international crude oil and refined petroleum product prices, the Chamber of Oil Marketing Companies (COMAC) has said.
In its Pricing Outlook for October 1, 2026, COMAC said international crude oil prices rose by 19.42 percent to US$124.20 per barrel, while the Ghana cedi depreciated by 1.27 percent against the US dollar during the pricing window.
The chamber said the combination of higher global crude oil prices, rising refined petroleum product prices and the weaker cedi was expected to push up ex-pump prices of petroleum products.
According to COMAC, petrol prices are projected to increase by between 2.12 percent and 3.31 percent, diesel by 3.32 percent to 5.60 percent, and liquefied petroleum gas (LPG) by 1.90 percent to 2.25 percent.
For cash purchases, the projected ex-pump prices are GH¢17.67 per litre for petrol, GH¢19.30 per litre for diesel and GH¢16.76 per kilogramme for LPG.
For credit purchases, the projected prices are GH¢17.97 per litre for petrol, GH¢19.60 per litre for diesel and GH¢17.06 per kilogramme for LPG.
COMAC attributed the pressure on petroleum prices to tightening physical oil markets, strong demand for prompt crude supplies and constraints in global refinery capacity.
The chamber also noted that all major refined petroleum products recorded increases during the latest pricing window. LPG recorded the highest increase of 8.55 percent, followed by diesel at 6.91 percent and petrol at 2.43 percent.
The cedi also depreciated by 1.27 percent to GH¢11.6321 to the US dollar, based on average bank rates between September 12 and 26, 2026.
Despite the upward pressure, COMAC said a government-industry intervention aimed at cushioning consumers against rising fuel prices would remain in place.
It said the temporary reduction in selected statutory diesel margins under the Petroleum Price Build-Up had been extended until further notice.
The intervention, according to the chamber, maintains the government-industry burden-sharing arrangement introduced on April 16, 2026, as part of measures to moderate the impact of rising international petroleum prices on consumers.
COMAC said the floor price for the first half of October would be GH¢16.45 per litre for petrol, GH¢17.97 per litre for diesel and GH¢11.10 per kilogramme for LPG.
The chamber explained that taxes, levies and regulatory margins account for 26 percent of the ex-pump price, while marketers and dealers’ margins account for four percent, with the remaining 70 percent representing the ex-refinery price.
The latest projections come amid continued volatility in the international oil market, with COMAC warning that developments in global crude supply, refined-product prices and exchange-rate movements would remain key factors influencing domestic fuel prices.
Source: www.kumasimail.com
