The Chamber of Petroleum Consumers (COPEC) has projected a marginal increase in petroleum prices across the country beginning Thursday, July 16, 2026, under the second pricing window of July.
According to COPEC, the expected increase comes despite a slight decline in global crude oil prices, largely due to increases in international Free on Board (FOB) prices for refined petroleum products and the depreciation of the Ghana cedi against the US dollar during the pricing period.
In a statement dated July 14, 2026, and signed by its Executive Secretary, Duncan Amoah, COPEC noted that global crude oil prices declined from $78 per barrel to $71.9 per barrel during the review period.
However, the cedi weakened marginally against the dollar, moving from an average interbank rate of GH¢11.4333 to the dollar at the beginning of the current pricing window to GH¢11.4970 by the close of the window, representing a depreciation of 0.56 percent.
On petrol prices, COPEC said, “The FOB price of petrol increased from $920.34/MT to $970.63/MT (5.4%) and a currency depreciation of about -0.56%, the retail price of petrol works up to Ghc13.84/L representing 4.65% of the current mean price of Ghc13.23/L.”
It added that, “the retail price of Petrol is expected to be selling between GHS13.15/L and GHS14.53/L, within a ±5% range of COPEC’s projection.”
For diesel, the consumer advocacy group stated that the international FOB price increased sharply from $896.02 per metric tonne to $974.40 per metric tonne, representing an 8.75 percent rise.
COPEC explained that, “The FOB price of diesel increased significantly from $896.02/MT to $974.40 (8.75%) and the cedi’s depreciation averages of -0.56%, the projected retail pump price for diesel in the next window shall work up to Ghc14.91/L.”*
It further projected that diesel prices would range between GH¢14.16 and GH¢15.65 per litre during the pricing window.
Meanwhile, liquefied petroleum gas (LPG) is expected to record a slight reduction in price following a marginal drop in international FOB prices.
According to COPEC, “With the international FOB price of LPG decreasing marginally from $548.50/MT to $545.65/MT (-0.52%) and the cedi’s depreciation of about -0.56%, the projected retail price of LPG is expected to decrease marginally and sold at Ghc9.96/Kg.”
The chamber projected that LPG prices would sell between GH¢9.47 per kilogram and GH¢10.46 per kilogram within its margin of error.
Despite the projected changes, COPEC expressed optimism that Oil Marketing Companies (OMCs) would keep prices stable.
