Petrol and diesel prices are projected to decline in Ghana during the second half of October 2026, while Liquefied Petroleum Gas (LPG) prices could rise sharply, according to the Chamber of Oil Marketing Companies (COMAC).
In its price outlook for October 16 to 31, COMAC said petrol prices could fall by between 1.20% and 1.67%, while diesel prices are projected to decline by 2.60% to 3.32%.
LPG prices, however, are expected to increase by between 16.98% and 18.50%, potentially putting additional pressure on households and businesses that rely on the fuel for cooking and other activities.
The projected changes come amid rising international crude oil prices and continued pressure on the Ghanaian cedi.
Data from the National Petroleum Authority (NPA), cited in the COMAC report, show that international LPG prices increased by 7.77% between the October 1 and October 16 pricing windows.
Diesel prices recorded the largest decline among the refined petroleum products covered in the report, falling by 6.68%. Petrol prices also declined by 3.93%, while kerosene and fuel oil dropped by 1.72% and 1.04%, respectively.
International crude oil prices moved in the opposite direction, rising by 2.03% to US$126.73 per barrel during the latest pricing window.
The mixed movements in refined petroleum prices mean consumers could experience different price adjustments depending on the fuel they purchase.
COMAC’s cash-purchase projections for the October 16 pricing window put petrol at GH¢17.67 per litre, diesel at GH¢19.30 per litre and LPG at GH¢20.60 per kilogram.
For credit purchases, the projected prices are GH¢17.97 per litre for petrol, GH¢19.60 per litre for diesel and GH¢20.90 per kilogram for LPG.
Actual pump prices may vary among oil marketing companies, depending on their pricing decisions and operating costs.
The government has revised the Energy Sector Shortfall and Debt Repayment Levy (ESSDRL) and selected statutory margins in the diesel price build-up for one month, effective October 1, 2026.
The intervention is intended to cushion consumers against rising international petroleum prices while maintaining the existing burden-sharing arrangement between government and industry.
According to COMAC, “The total value of the intervention remains unchanged, maintaining the Government–industry burden-sharing arrangement introduced on 16 April 2026 to moderate increases in diesel prices at the pumps.”
The measure comes as global oil supply concerns continue to influence crude prices, although lower international prices for petrol and diesel could provide some relief at local fuel stations.
The report also highlighted the depreciation of the Ghanaian cedi against the US dollar, noting that the exchange rate rose from GH¢11.6211 to GH¢11.8221 per dollar between the two pricing indicators.
A weaker cedi increases the local-currency cost of importing petroleum products, potentially offsetting some of the relief from declining international prices.
Consumers are therefore advised to monitor prices announced by individual oil marketing companies as the new pricing window takes effect.
