The Chamber of Petroleum Consumers (COPEC) is calling on Oil Marketing Companies to exercise restraint as global oil market movements point to marginal fuel price increases in the first pricing window of March 2026.
Although pump prices are projected to edge up slightly, COPEC believes marketers can cushion consumers from additional strain by maintaining current rates.
According to the Chamber’s projections, petrol is expected to rise by 3.59 per cent, diesel by 1.52 per cent, while Liquefied Petroleum Gas (LPG) could see a modest decline of 1.57 per cent.
The anticipated adjustments are largely attributed to upward shifts in global crude and Free On Board (FOB) prices. Global crude reportedly inched up by about 1.25 per cent, moving from $70.90 per barrel to $71.79 per barrel within the pricing window.
Despite the pressure from international markets, the cedi recorded a slight appreciation against the US dollar — strengthening by 0.24 per cent from an average interbank rate of GHS11.0990 to GHS11.0723 — offering some relief in the price build-up.
For petrol, the international FOB price increased by 5.03 per cent, pushing projected retail prices to range between GHS11.8 per litre and GHS13 per litre within a ±5 per cent margin.
Diesel’s FOB price also climbed by 2.29 per cent, with pump prices expected to sell between GHS12.73 per litre and GHS14.0 per litre.
LPG, however, may provide slight respite for households, as its international FOB price dipped by 1.5 per cent. Retail prices are therefore projected to range between GHS11.48 per kilogram and GHS12.69 per kilogram.
While describing the projected increments as marginal, COPEC stressed that the continued volatility of global oil markets underscores the sensitivity of Ghana’s fuel pricing structure to international trends.
The Chamber concluded by appealing to industry players to prioritise consumer welfare and avoid passing on the full impact of the projected increases during the upcoming pricing window.
