Accra:Ghanaian motorists are experiencing significant increases in fuel prices this year, impacting driving, business operations, and public transport expenses.
According to Ghana Web, the petrol price has been raised multiple times throughout 2026. Initially, in early February, petrol was priced at approximately GHS9.99 per litre, with crude oil prices around US$70 per barrel. However, by March, the National Petroleum Authority (NPA) increased the petrol price floor from GHS10.24 to GHS10.46 per litre, and again to GHS11.57 two weeks later. Diesel prices also surged from GHS11.42 to GHS14.35 per litre during this period.
By September 16, the petrol price had climbed to GHS16 per litre, marking a 56 increase since March. Over 14 pricing periods between March and September, the petrol price increased nine times and decreased five times. There were temporary price reductions in the following months, but each was succeeded by another hike. The government's intervention included absorbing GHS0.36 per litre of petrol and GHS2 per litre of diesel from mid-April, though only the diesel subsidy was later reinstated.
The rise in fuel prices has directly impacted public transport costs. On September 16, the NPA set the minimum price for petrol at GHS16 per litre and diesel at GHS16.77. Subsequently, on September 26, an 8 increase in commercial transport fares was implemented following negotiations between transport unions and the government, attributed to the rising costs of fuel, spare parts, and vehicle maintenance. This fare increase has led to disputes between drivers and passengers, with some passengers claiming they are being overcharged.
Beyond transport, these increases affect workers and students who rely on public transport, as well as businesses dependent on goods transportation, contributing to higher operating costs and potentially inflating consumer prices.
Looking forward, the Chamber of Petroleum Consumers (COPEC) forecasts a further rise in fuel prices, predicting petrol may reach GHS17.78 per litre and diesel GHS22.42 from October 1. If realized, this would lead to further financial strain for motorists and transport operators, compounding the recent 8 fare hike's impact.