Baku:Motorists may see a reduction in petrol and diesel prices starting Friday, October 16, 2026, though those relying on liquefied petroleum gas (LPG) for cooking should prepare for an 18.5% price hike.
According to Ghana Web, the Chamber of Oil Marketing Companies (COMAC) expects petrol prices to decrease by nearly 2% to GHS17.67 per litre, while diesel prices are projected to drop by 3.32% to GHS19.30 per litre. Conversely, LPG prices are anticipated to rise to GHS20.60 per kilogram, impacting the cost of refilling gas cylinders.
The decrease in petrol and diesel prices is attributed to declines in international market prices. Petrol prices internationally dropped by 3.93%, and diesel prices fell by 6.68%. However, LPG prices saw a 7.77% increase. The depreciation of the cedi, which weakened by 1.61%, averaging GHS11.8222 to the US dollar, has also contributed to higher import costs for petroleum products.
The National Petroleum Authority (NPA) has adjusted the minimum price levels for the upcoming pricing window. Petrol's minimum price has been reduced from GHS16.45 to GHS16.09 per litre, and diesel's from GHS17.97 to GHS17.09 per litre. Conversely, the minimum price for LPG has increased from GHS11.10 to GHS13.87 per kilogram. These adjustments serve as pricing benchmarks and do not include additional supplier charges or distributor margins. Ultimately, the final prices consumers pay will depend on the rates set by individual oil marketing companies.