Motorists and other petroleum consumers could face higher fuel prices from Wednesday, September 16, following a projection by the Chamber of Petroleum Consumers (COPEC) of significant increases in petrol and diesel prices.
COPEC estimates that petrol could rise by 4.24 per cent to an average of GH¢16.26 per litre, while diesel is projected to record a much steeper 10.23 per cent increase, reaching about GH¢19.07 per litre.
The chamber also expects Liquefied Petroleum Gas (LPG) prices to increase, with the commodity projected to sell at approximately GH¢15.32 per kilogramme during the second pricing window of September.
In its September 13, 2026 projection, COPEC attributed the anticipated increases primarily to a surge in international crude oil and refined petroleum product prices.
International crude oil prices, it said, rose from US$89.30 to US$103.07 per barrel over the period under review.
The sharp increase in global oil prices occurred despite a marginal appreciation of the Ghana cedi against the US dollar.
According to COPEC, the cedi strengthened from an average interbank rate of GH¢11.5166 to GH¢11.4830 to US$1, representing a marginal 0.29 per cent appreciation.
Diesel faces bigger increase
Diesel is expected to bear the biggest impact, with COPEC projecting a pump price of GH¢19.07 per litre, up from the current mean price of GH¢17.30.
The chamber said the international Free on Board (FOB) price of diesel climbed from US$1,250.50 to US$1,404.73 per metric tonne, representing a 12.33 per cent increase.
After taking the marginal appreciation of the cedi into account, COPEC estimates that the increase in the international price would translate into a 10.23 per cent rise at the pump.
Petrol prices are also expected to move upwards after its international FOB price increased from US$1,136.50 to US$1,251.07 per metric tonne, representing a 10.08 per cent rise.
COPEC projects that the current mean petrol price of GH¢15.60 per litre could rise to GH¢16.26.
Based on its estimated ±5 per cent price range, petrol could be sold between GH¢15.44 and GH¢17.08 per litre during the next pricing window.
The projected increases could put additional pressure on transport operators, motorists and businesses, particularly if international oil prices remain elevated into subsequent pricing windows.
