Fuel prices are expected to rise significantly from April 1, 2026, deepening cost pressures across the economy as global oil market dynamics and currency weakness drive up import costs.
According to the latest outlook by the Chamber of Oil Marketing Companies (COMAC), petrol prices could increase by 8.06 percent to approximately GH¢15.19 per litre, while diesel is projected to surge by 9.76 percent to about GH¢17.85 per litre.
Liquefied Petroleum Gas (LPG) is also expected to edge higher, with prices likely to reach GH¢16.59 per litre.
This marks the fifth projected fuel price increase since January 2026 and the second steep adjustment this year, reinforcing concerns about rising inflation and its knock-on effects on businesses and households.
The anticipated hikes are being driven primarily by developments on the international market. Crude oil prices have climbed sharply from $86.55 to $109.66 per barrel, amid escalating geopolitical tensions in the Middle East and supply uncertainties along critical shipping corridors such as the Strait of Hormuz.
Refined petroleum products have also recorded substantial gains, with LPG rising by 36.90 per cent, diesel by 27.84 per cent, and petrol by 24.48 percent.
Compounding the situation is the depreciation of the local currency. The Ghana cedi weakened by 1.24 percent against the US dollar during the latest pricing window, moving from GH¢10.913 to GH¢11.050.
Analysts link the decline to sustained demand for foreign exchange by importers, elevated liquidity levels, and the rising cost of crude oil imports.
The National Petroleum Authority (NPA) has responded by revising minimum price floors under its Petroleum Products Pricing Guidelines.
Petrol’s floor price has been raised from GH¢11.57 to GH¢13.30 per litre, while diesel saw the sharpest adjustment, jumping from GH¢14.35 to GH¢17.10 per litre within a two-week period. LPG prices have also been adjusted upward to GH¢10.71 per kilogramme.
In a directive to oil marketing companies, the NPA urged strict compliance with the new pricing thresholds, noting that the figures exclude additional premiums from international traders as well as margins determined by bulk distributors and retailers.
A Business News Desk Report