Motorists are expected to pay more for petrol, diesel and liquefied petroleum gas (LPG) from Thursday, July 16, 2026, as oil marketing companies prepare to adjust pump prices upward.
The latest pricing outlook from the Chamber of Oil Marketing Companies (COMAC) projects increases across all three fuel products during the second pricing window in July.
According to COMAC, petrol prices are expected to rise by between 3.79% and 5.31%, with a litre projected to sell for about GH¢14.52.
Diesel is expected to increase by about 7 pesewas per litre, bringing the average pump price to around GH¢16.00 per litre.
LPG is also projected to record an increase of between 1.10% and 1.30% per kilogram.
COMAC attributed the projected increases to higher international crude oil and refined petroleum product prices, driven by renewed geopolitical tensions and concerns over supply disruptions and shipping security through the Strait of Hormuz.
The Chamber also reported a slight depreciation of the Ghana cedi during the pricing period. The exchange rate for the July 16 pricing window moved from GH¢11.4333 to GH¢11.4970 per US dollar, representing a 0.55% depreciation.
On the international market, average crude oil prices initially declined by 7.96%, falling from US$78.12 per barrel to US$71.90 per barrel. However, prices rebounded following reports of a ceasefire breach on July 7 and 8. By July 14, Brent crude had risen above US$84 per barrel after reports of Iranian missile strikes on two UAE tankers raised concerns over shipping through the Strait of Hormuz.
Among refined petroleum products, diesel recorded the largest international price increase at 8.14%, followed by petrol at 4.96%. LPG prices declined by 0.92% over the same period.
The National Petroleum Authority (NPA) has also revised its price floors for the second pricing window in July.
According to a notice issued to industry players, the price floor for petrol has increased from GH¢12.79 to GH¢13.28 per litre, representing a 3.83% rise.
The diesel price floor has been increased from GH¢13.54 to GH¢14.35 per litre, a 5.98% increase.
The LPG price floor has also been adjusted upward by 0.79% per kilogram.
The revised NPA price floors align with COMAC’s projections that fuel prices are expected to increase nationwide from Thursday, July 16, 2026.
