Petrol prices are expected to decline while diesel prices could increase from Monday, August 17, 2026, in a mixed review of petroleum prices at fuel stations across Ghana.
Data from the Chamber of Oil Marketing Companies (COMAC) indicate that petrol prices could fall by as much as 2.90%, bringing the indicative retail price to approximately GH¢15.82 per litre.
Diesel, however, is projected to increase by 1.39%, potentially pushing the price to about GH¢17.73 per litre.
Liquefied Petroleum Gas (LPG) is also expected to record a marginal decline of 0.93%, with the indicative price projected at around GH¢16.21 per kilogramme.
Despite the projected changes, the Chief Executive of the Chamber of Petroleum Consumers (COPEC) says that he expects most Oil Marketing Companies (OMCs) to maintain their existing pump prices.
Ghana currently has more than 200 OMCs, allowing individual companies some flexibility in setting prices within the regulatory framework.
International Market Drives Mixed Movement
The mixed price outlook has largely been influenced by developments on the international petroleum market.
According to COMAC, average crude oil prices increased by 2.02% to US$90.41 per barrel in mid-August, amid geopolitical tensions and concerns over possible supply disruptions around the Strait of Hormuz.
Prices of refined petroleum products, however, moved in different directions. Diesel prices increased by 2.86%, while petrol and LPG prices declined by 5.46% and 2.54%, respectively.
COMAC attributed the mixed movement to continued uncertainty surrounding the US-Iran dispute, alongside higher international crude oil prices.
The Chamber said ongoing government-industry interventions would continue to cushion consumers against the impact of rising diesel prices at the pumps.
It also noted that the recent strengthening of the Ghanaian cedi could support further reductions in petroleum prices in subsequent pricing windows if the appreciation is sustained.
The cedi had depreciated by 1.20% to GH¢11.7995 to the US dollar between July 27 and August 11, 2026, based on bank averages.
However, the currency subsequently strengthened, with the Bank of Ghana’s rate standing at GH¢10.9855 to the US dollar on August 14.
NPA Reduces Petroleum Price Floors
Meanwhile, the National Petroleum Authority (NPA) has reduced its price floors for the second pricing window of August, which commenced on August 16.
Data obtained by JOYBUSINESS show that the petrol price floor has been reduced from GH¢14.53 to GH¢13.92 per litre.
The reduction of GH¢0.61 represents approximately 4.1%.
The diesel price floor has also been reduced from GH¢16.97 to GH¢15.19 per litre, representing a reduction of GH¢1.78 or 10.48%.
For LPG, the price floor has been marginally reduced from GH¢11.06 to GH¢10.98 per kilogramme.
The NPA has reminded OMCs and LPG Marketing Companies that they are prohibited from selling petroleum products below the approved price floors during the current pricing window.
Despite the changes in international market conditions and the revised price floors, current market trends suggest that some OMCs may opt to maintain their existing pump prices rather than adjust them.
Consumers could therefore see different prices across fuel stations depending on the pricing decisions of individual OMCs.
