Petrol and Liquefied Petroleum Gas (LPG) prices will rise beginning June 1, 2026. Diesel prices, however, are set to fall during the same period. These adjustments will affect consumers at the pump across Ghana.
The Chamber of Oil Marketing Companies (COMAC) released projections showing petrol prices could increase by 4.20% to 6.20%. This could push the cost of one litre of petrol to approximately GHS 15.92. LPG prices may climb by up to 2.24%, leading to a kilogram costing about GHS 17.30. Conversely, diesel prices are expected to drop by 1.65% to 2.00%, making a litre cost around GHS 17.21.
These mixed price changes reflect complex global and local economic factors. International oil prices have shown varied movements, with LPG and diesel seeing declines while petrol increased slightly in late May. The Ghana cedi has also depreciated against major currencies, weakening from GHS 11.30 to GHS 11.59 per dollar. This currency depreciation typically increases the cost of imported petroleum products.
COMAC stated that the current pricing outlook is influenced by government-industry interventions. These measures, extended from May 16, 2026, aim to cushion consumers from the full impact of global price surges. The intervention has been zeroed out for petrol, meaning its price will more closely follow international trends. For diesel, the intervention has been reduced to GHS 1.07 per litre, providing some relief but still allowing for price adjustments.
The National Petroleum Authority (NPA) set a price floor for petrol at GHS 15.20 per litre for the June 1 to June 16, 2026 window. This represents an increase from the previous pricing period. The price floor for diesel was set at GHS 15.49 per litre, indicating that oil marketing companies should sell below this figure.
These price adjustments will have a direct impact on household budgets and business operating costs. Transport businesses and individuals relying on petrol or LPG will face higher expenses. Conversely, those using diesel for transportation or power generation might see some cost savings. The continued depreciation of the cedi remains a key concern for the stability of fuel prices in Ghana.
COMAC's projections suggest that while global oil prices reduced, the slight depreciation of the cedi and the adjustment in government-industry interventions are leading to these varied price outcomes. Consumers will be watching closely as these new prices take effect, especially those commuting daily or relying on petroleum products for economic activities.
The interplay between international crude oil markets, foreign exchange rates, and domestic pricing policies will continue to shape fuel costs. Future forecasts will depend heavily on the stability of the cedi and any further policy decisions by the NPA and COMAC. This is a situation that will be closely monitored by both consumers and financial analysts throughout the coming weeks.