Fuel prices are expected to rise slightly in the first pricing window of March 2026, according to the Chamber of Petroleum Consumers (COPEC).
In a statement dated 25 February, COPEC said petrol and diesel prices are projected to increase at the pumps, while Liquefied Petroleum Gas (LPG) could see a marginal decline.
Petrol is expected to rise by 3.59%, with prices likely to range between GHS11.8 and GHS13 per litre within a ±5% margin of the group’s projections. Diesel is projected to increase by 1.52%, selling between GHS12.73 and GHS14.0 per litre.
In contrast, LPG is forecast to drop by 1.57%, with prices expected to range between GHS11.48 and GHS12.69 per kilogram.
COPEC attributed the projected increases in petrol and diesel prices to a marginal rise in global crude oil prices and higher international Free On Board (FOB) prices for refined petroleum products.
Global crude oil prices increased by about 1.25%, rising from $70.90 per barrel to $71.79 per barrel during the pricing window. The international FOB price of petrol rose by 5.03%, from $652.64 per metric tonne to $685.27 per metric tonne, while diesel increased by 2.29%, from $695.94 per metric tonne to $711.86 per metric tonne.
However, the cedi recorded a slight appreciation against the US dollar, moving from an average interbank rate of GHS11.0990 to GHS11.0723 to the dollar, representing a 0.24% gain. COPEC said the currency’s performance helped moderate the impact of rising international prices.
The consumer advocacy group urged Oil Marketing Companies (OMCs) to maintain prices at the pumps to avoid placing additional financial pressure on consumers.
“It is the expectation of COPEC that the various Oil Marketing Companies would maintain prices across the pumps in order not to overburden the consumer with these expected increments in the coming window,” said Duncan Amoah, Executive Secretary of COPEC.
Source: wwwkumasimail.com
