Consumers across Ghana should prepare for marginal increases in fuel prices in the first pricing window of March 2026, according to projections by the Chamber of Petroleum Consumers (COPEC).
The chamber has indicated that petrol and diesel prices are expected to rise slightly at the pumps, while Liquefied Petroleum Gas (LPG) could see a minor decline.
Petrol Price Expected to Rise by 3.59%
COPEC projects that petrol prices will increase by approximately 3.59% in the upcoming pricing window.
The expected adjustment follows:
- A 1.25% rise in global crude oil prices, from $70.90 per barrel to $71.79 per barrel.
- An increase in the international Free On Board (FOB) price of petrol from $652.64/MT to $685.27/MT, representing a 5.03% jump.
- A marginal appreciation of the Ghana cedi by 0.24%, moving from an average interbank rate of GHS11.0990 to GHS11.0723 to the US dollar.
Despite the cedi’s slight strengthening, the higher international market prices have outweighed currency gains.
As a result, retail petrol prices are projected to sell between GHS11.8 per litre and GHS13.0 per litre, within a ±5% range of COPEC’s forecast.
Diesel Prices to Increase by 1.52%
Diesel is also expected to record a modest rise of 1.52%.
This projection is based on:
- An increase in the international FOB price of diesel from $695.94/MT to $711.86/MT (2.29%).
- The same 0.24% appreciation of the Ghana cedi.
COPEC estimates that diesel will retail between GHS12.73 per litre and GHS14.0 per litre, within a ±5% margin.
LPG Prices May Decline Slightly
In contrast to petrol and diesel, LPG could offer some relief to households and commercial users.
The international FOB price of LPG dropped from $508.77/MT to $503.59/MT, reflecting a 1.5% decrease. Combined with the cedi’s appreciation, LPG prices are projected to decline marginally by 1.57%.
Retail LPG prices are expected to range between GHS11.48/kg and GHS12.69/kg, within a ±5% error margin.
Global Market Sensitivity Continues
COPEC’s projections highlight the ongoing sensitivity of Ghana’s fuel prices to movements in global crude oil markets and international refined product prices.
Although the Ghana cedi has shown slight appreciation against the US dollar, global price increases continue to exert upward pressure on domestic fuel prices.
COPEC Urges Oil Marketing Companies to Show Restraint
Despite the projected increments, COPEC has urged Oil Marketing Companies (OMCs) to exercise restraint and avoid passing the full cost burden onto consumers.
The chamber expressed hope that pump prices will be maintained where possible to prevent further financial strain on households and businesses already grappling with rising living costs.
Outlook for March 2026 Fuel Pricing Window
While the projected increases are described as marginal, motorists, transport operators, and businesses should expect slight upward adjustments in petrol and diesel prices in early March 2026.
Energy analysts say sustained volatility in international crude prices and exchange rate movements will remain key determinants of fuel pricing in Ghana in the coming months.
