Consumers and businesses are expected to enjoy some relief at the pumps from June 16, 2026, as fuel prices are projected to decline across major petroleum products during the second pricing window of the month.
According to the latest pricing outlook released by the Chamber of Oil Marketing Companies (COMAC), petrol is expected to record the sharpest reduction, falling by 9.31 percent. Diesel prices are projected to decrease by 1.65 percent, while liquefied petroleum gas (LPG) is expected to decline marginally by 0.52 percent.
COMAC attributed the anticipated reductions largely to a significant fall in international refined petroleum product prices, describing it as the steepest decline recorded since the beginning of 2026.
The Chamber noted, however, that the drop in diesel prices would be less pronounced because of the full removal of the government-industry intervention mechanism, while LPG prices continue to be influenced by existing tender arrangements that have locked in supply costs.
Global crude oil prices also recorded a sharp decline during the review period. Oil prices fell from US$110.59 per barrel to US$97.32 per barrel, representing a 12 percent reduction.
Similarly, refined petroleum product prices on the international market posted substantial decreases ahead of the June 16 pricing window. LPG recorded the largest decline at 19.94 percent, followed by petrol at 15.21 percent and diesel at 10.17 percent.
Despite the favourable international market conditions, the Ghana cedi weakened slightly against major trading currencies. The exchange rate moved from GH¢11.59 to GH¢11.80 to the US dollar, representing a depreciation of 2.45 percent.
Meanwhile, the National Petroleum Authority (NPA) has announced lower benchmark price floors for petroleum products for the second pricing window of June.
The minimum benchmark price for diesel has been reduced to GH¢15.11 per litre from GH¢15.49 per litre in the first pricing window, representing a decline of GH¢0.38 per litre, or about 2.5 per cent.
Petrol recorded the most significant adjustment, with its price floor dropping to GH¢13.39 per litre from GH¢15.20 per litre previously. This represents a reduction of GH¢1.81 per litre, equivalent to nearly 12 percent.
For LPG, the benchmark price floor has been lowered to GH¢13.23 per kilogram from GH¢13.48 per kilogram, which reflects a decrease of GH¢0.25 per kilogram, or about 1.9 percent.
The NPA explained that the price floors serve as the minimum benchmark prices at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are expected to retail petroleum products during the second pricing window of June.
By Ernest Kofi Adu