Accra: Prices of petrol and diesel in Ghana are anticipated to see a significant increase from Wednesday, September 16, 2026, as projected by the Chamber of Petroleum Consumers (COPEC). This surge is attributed to the recent sharp rise in international crude oil and refined petroleum product prices.
According to Ghana Web, COPEC forecasts a 4.24 percent rise in petrol prices, bringing the cost to approximately GHS16.26 per litre. Diesel prices are expected to witness a larger increase of 10.23 percent, potentially reaching about GHS19.07 per litre during the second pricing window of September. Additionally, Liquefied Petroleum Gas (LPG) is projected to increase to around GHS15.32 per kilogramme.
In its pricing projection dated September 13, 2026, COPEC highlighted that international crude oil prices have escalated from US$89.30 to US$103.07 per barrel. This increase has occurred despite a slight appreciation of the Ghana cedi against the US dollar.
According to COPEC, the average interbank exchange rate slightly improved from GHS11.5166 to GHS11.4830 per US$1, marking a 0.29 per cent appreciation of the cedi. This marginal gain, however, has not been sufficient to counterbalance the rising global oil prices.
For petrol, COPEC reported that the international Free on Board (FOB) price climbed from US$1,136.50 to US$1,251.07 per metric tonne, showing a 10.08 percent increase. After considering the cedi's appreciation, COPEC predicts petrol could sell at an average retail price of GHS16.26 per litre, reflecting a 4.24 percent hike from the current average price of GHS15.60 per litre. The expected price range for petrol is between GHS15.44 and GHS17.08 per litre.
Diesel is expected to see a more pronounced price rise. COPEC noted that the FOB price of diesel increased from US$1,250.50 to US$1,404.73 per metric tonne, a 12.33 percent rise. Taking into account the cedi's slight appreciation, COPEC anticipates an average retail pump price of GHS19.07 per litre for diesel, representing a 10.23 percent increase from the current average price of GHS17.30 per litre.
If these projected increases are implemented by oil marketing companies, they could escalate the cost of fuel for motorists and have broader implications for transportation and other sectors heavily dependent on petroleum products.