COMAC projects fuel price reduction from June 16; See expected prices

Josephine Amuzu 17:45 - 15 June 2026

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COMAC projects a drop in fuel prices from June 16, 2026, with petrol, diesel and LPG expected to fall as global crude oil prices decline, offering relief to consumers and businesses.

Consumers across Ghana could begin paying less for fuel from Tuesday, June 16, 2026, following fresh projections by the Chamber of Oil Marketing Companies (COMAC) indicating reductions in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG).

In its latest market assessment ahead of the second pricing window for June, COMAC said falling global crude oil prices are expected to translate into lower pump prices nationwide, offering relief to households, transport operators and businesses grappling with rising operational costs.

Among the petroleum products, petrol is expected to see the biggest reduction, with prices projected to decline by as much as 9.31 percent. If implemented by Oil Marketing Companies (OMCs), the commodity could sell at an estimated GH¢14.72 per litre.

Diesel prices are also projected to decrease, though at a slower pace. COMAC estimates a 1.65 percent decline, which would place retail prices at approximately GH¢17.02 per litre.

For LPG, consumers may see a marginal reduction of 0.52 percent, bringing prices to around GH¢17.20 per kilogram, according to the industry outlook.

COMAC attributed the anticipated reductions to developments in the international oil market, where crude prices have declined significantly in recent days.

The chamber pointed to diplomatic progress between the United States and Iran, including a reported peace agreement that has paved the way for the reopening of the Strait of Hormuz, a key global shipping route for oil exports.

Following the development, Brent crude prices reportedly dropped by 4.8 percent to $83.18 per barrel, while U.S. West Texas Intermediate (WTI) crude fell by 5.6 percent to $80.13 per barrel.

The drop in global benchmark prices has lowered the cost of refined petroleum products on the international market, reducing procurement expenses for Ghana’s OMCs and creating room for downward adjustments at local filling stations.

The expected price relief comes at a time when many Ghanaians are facing increased transportation expenses. Earlier in June, the Ghana Private Road Transport Union (GPRTU) and other transport operators introduced a 20 percent increase in transport fares, citing elevated fuel prices.

Industry observers believe the anticipated reductions under Ghana’s fuel pricing regime could help slow inflationary pressures and potentially influence transport costs in the coming weeks.

Fuel retailers are expected to begin adjusting prices at pumps nationwide when the new pricing window takes effect on June 16.

Meanwhile,the NPA’s benchmark pricing framework also shows reduced price floors for key petroleum products, reinforcing expectations of cheaper fuel at the pump, although actual retail prices may vary across Oil Marketing Companies (OMCs).

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