Petroleum consumers are set to face higher prices at the pumps from Thursday, October 1, 2026, with diesel expected to record the biggest increase, according to the Chamber of Petroleum Consumers (COPEC).
COPEC projects petrol to rise by 5.21% to an average of GH¢17.78 per litre, while diesel is expected to increase by 22.91% to GH¢22.42 per litre.
The Chamber also projects Liquefied Petroleum Gas (LPG) to sell at GH¢15.68 per kilogramme during the first pricing window of October.
In a statement dated September 29, COPEC attributed the projected increases largely to a significant rise in international crude oil prices and a marginal depreciation of the cedi against the US dollar.
According to the Chamber, global crude prices increased from $103.07 to $124 per barrel, while the cedi depreciated from an average interbank rate of GH¢11.4830 to GH¢11.6211 to the US dollar during the current pricing window.
For petrol, COPEC said the international Free on Board (FOB) price increased by 4.26%, from $1,251.07 per metric tonne to $1,304.39. Combined with the currency depreciation, this is expected to push the average retail price to GH¢17.78 per litre, up from the current mean price of GH¢16.90.
Diesel is expected to record the steepest increase. COPEC said its FOB price rose by 8.51%, from $1,404.73 to $1,524.22 per metric tonne, with the resulting projected retail price reaching GH¢22.42 per litre, compared with the current average of GH¢18.24.
LPG prices are also projected to rise after its international FOB price increased by 9.10%, from $712.43 to $777.59 per metric tonne. COPEC estimates a retail price of GH¢15.68 per kilogramme in the October window.
COPEC commended government for maintaining crude supply to local refineries, which it said is supporting continuous production.
The Chamber, however, urged government to accelerate the expansion of the Tema Oil Refinery (TOR), saying increasing its refining capacity from the current 45,000 barrels per day to 100,000 barrels per day could reduce Ghana’s dependence on imported finished petroleum products.
COPEC also appealed to Oil Marketing Companies (OMCs) to consider reducing some of their margins to cushion consumers against the expected price increases.
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Read the full statement below:
