Petroleum prices are expected to record marginal increases at fuel stations from Tuesday, September 1, 2026, the Chamber of Petroleum Consumers (COPEC) has projected.

According to COPEC, petrol is expected to record the biggest increase, with the projected retail price rising to GH¢16.21 per litre, representing a 5% increase from the current average price of GH¢15.43 per litre.

The projections were contained in a statement issued on August 30, 2026, and signed by COPEC Executive Secretary, Duncan Amoah.

The projection comes despite a marginal decline in global crude oil prices and an appreciation of the Ghana cedi against the US dollar during the current pricing window.

COPEC said the average global crude price declined from $90.41 to $89.30 per barrel, while the cedi appreciated by about 2.39%, moving from an average interbank rate of GH¢11.80 to the dollar at the start of the window to GH¢11.5166 at its close.

However, the chamber said the gains from the currency appreciation were outweighed in the case of petrol by a significant increase in its international Free on Board (FOB) price.

The FOB price of petrol rose from $1,033.15 to $1,136.50 per metric tonne, representing a 10% increase.

COPEC consequently projects that petrol could sell between GH¢15.40 and GH¢17.02 per litre, within a ±5% margin of its projection.

For diesel, COPEC projects a retail price of GH¢17.61 per litre, up from the current average of GH¢17.17.

The chamber said the international FOB price of diesel declined marginally from $1,251.19 to $1,250.50 per metric tonne, while the appreciation of the cedi was factored into the projected pump price.

Diesel is therefore expected to sell between GH¢16.73 and GH¢18.49 per litre, within the chamber’s ±5% projection range.

LPG prices are also expected to increase marginally.

COPEC projects LPG to sell at GH¢14.19 per kilogramme, compared with the current price, after its international FOB price increased from $596 to $611 per metric tonne, representing a 2.64% rise.

Within a ±5% margin of error, LPG could sell between GH¢13.48 and GH¢14.90 per kilogramme, according to the chamber.

In view of the anticipated increases, COPEC has appealed to the government to extend its fuel subsidy intervention beyond the end of August.

It said maintaining the intervention would help cushion consumers until international petroleum benchmarks return to more favourable levels.

COPEC also urged Oil Marketing Companies (OMCs) to maintain the current ex-pump price of diesel to help ease the impact of the expected increases on consumers.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.