Some Oil Marketing Companies (OMCs) have begun increasing fuel prices at the pumps effective June 1, 2026, in line with the latest biweekly pricing review under Ghana’s petroleum price deregulation regime.
Star Oil was among the first companies to adjust its prices, raising the price of petrol from GH¢14.60 per litre to GH¢15.20 per litre. The company, however, maintained the price of diesel at GH¢15.81 per litre.
The latest adjustment follows the announcement by the National Petroleum Authority on May 28, 2026, of new price floors for the June 1–16 pricing window. Under the revised framework, OMCs are not expected to sell petrol below GH¢15.20 per litre, representing an increase from the previous pricing cycle.
For diesel, the minimum indicative price was set at GH¢15.49 per litre, lower than the previous pricing window, suggesting that some operators may offer the product at more competitive rates.
It remains unclear how other major industry players, including GOIL PLC, Shell, TotalEnergies and Zen Petroleum, will respond to the latest pricing adjustments.
Industry Projections
The Chamber of Oil Marketing Companies has projected that petrol prices could increase by between 4.2% and 6.2%, potentially pushing pump prices to around GH¢15.92 per litre.
Liquefied Petroleum Gas (LPG) is also expected to rise by as much as 2.24%, with prices projected to reach approximately GH¢17.30 per kilogramme.
Diesel, however, is forecast to record a marginal decline of between 1.65% and 2.0%, which could lead to lower prices at some filling stations despite the broader upward trend in petroleum product pricing.
According to COMAC, these projections are based on fuel marketers that purchase petroleum products on credit from Bulk Oil Distribution Companies.
Factors Driving the Price Changes
COMAC attributed the mixed pricing outlook to a combination of lower global petroleum prices, continued government-industry interventions and recent pressure on the Ghana cedi.
The chamber noted that the Joint Government-Industry intervention mechanism, which was extended on May 16, 2026, continues to influence fuel pricing. Under the latest revision, the intervention component has been completely removed for petrol while being reduced to GH¢1.07 per litre for diesel.
Industry analysts say the arrangement continues to cushion consumers from the full impact of international market prices while allowing gradual adjustments toward prevailing global fuel costs.
The latest price increases are expected to have implications for transportation costs and general consumer spending, particularly as fuel prices remain a key driver of inflation and economic activity in Ghana.
