The Chamber of Petroleum Consumers (COPEC) has projected prices of petrol, diesel and Liquefied Petroleum Gas (LPG) to increase from Wednesday, September 16, 2026.
According to COPEC, petrol is to sell at an average price of GH¢16.26 per litre, representing a 4.24 percent increase from the current mean price of GH¢15.60 per litre.
Diesel, on the other hand, is expected to record a sharper increase of 10.23 percent, with the projected retail price rising from GH¢17.30 to GH¢19.07 per litre, while LPG is projected to sell at GH¢15.32 per kilogramme, following a significant increase in its international Free on Board (FOB) price.
In a statement issued yesterday, the Executive Secretary of COPEC, Duncan Amoah, attributed the expected increases largely to rising international petroleum prices.
He said global crude oil prices had increased from $89.30 to $103.07 per barrel, while the cedi recorded a marginal appreciation against the US dollar.
According to Mr. Amoah, the cedi appreciated by about 0.29 percent, with the average interbank exchange rate improving from $1 to GH¢11.5166 at the beginning of the current pricing window to $1 to GH¢11.4830 at its close.
He said the Free on Board price of petrol increased from $1,136.50 to $1,251.07 per metric tonne, representing a 10.08 percent rise.
Despite the marginal appreciation of the cedi, COPEC’s analysis showed that the projected retail price of petrol would increase to GH¢16.26 per litre.
Petrol could therefore sell between GH¢15.44 and GH¢17.08 per litre, depending on the margins applied by Oil Marketing Companies (OMCs), COPEC said.
For diesel, Mr. Amoah said the FOB price increased from $1,250.50 to $1,404.73 per metric tonne, representing a 12.33 percent increase.
The Chamber said with the currency movement factored in, the projected retail price of diesel is expected to rise to GH¢19.07 per litre, with pump prices likely to range between GH¢18.12 and GH¢20.02.
The international FOB price of LPG also increased significantly, from $611.75 to $712.43 per metric tonne, representing a 16.45 percent increase.
COPEC consequently projected an LPG retail price of GH¢15.32 per kilogramme, with prices expected to range between GH¢14.55 and GH¢16.08 per kilogramme.
Mr. Amoah appealed to the government to extend its subsidy intervention beyond the first pricing window of September to cushion consumers from the expected increases.
He proposed a GH¢1 per litre relief on petrol while maintaining the existing GH¢2 per litre relief on diesel until international petroleum benchmarks returned to normal levels.
Mr. Amoah also urged the government to expedite the expansion of the Tema Oil Refinery (TOR), saying the facility’s refining capacity should be increased from the current 45,000 barrels per day to 100,000 barrels per day.
He said expanding domestic refining capacity would help reduce the nation’s reliance on imported finished petroleum products.
COPEC further appealed to OMCs to consider absorbing part of their margins to prevent the projected increases from placing an additional burden on consumers.
The chamber said such a move would help cushion consumers, particularly in the face of the expected steep increases in petroleum prices.
By Ernest Kofi Adu