Fuel prices may hit GH¢18 per litre in April amid cedi depreciation, Middle East war – COPEC warns

Fuel prices in Ghana could rise sharply in April 2026, with projections indicating that petrol and diesel may hit GH¢18 per litre, according to the Chamber of Petroleum Consumers (COPEC).

The warning, according to reports by Citi Newsroom, comes amid growing concerns over global oil price movements and the continued depreciation of the Ghana cedi against major trading currencies.

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COPEC says the expected increase is driven largely by rising crude oil prices on the international market, coupled with local economic pressures that affect import costs.

According to COPEC, one of the biggest factors is the weakening of the cedi, which makes fuel imports more expensive since petroleum products are priced in U.S. dollars.

In addition, global oil prices have been fluctuating due to supply concerns and geopolitical tensions, pushing up the cost of refined petroleum products worldwide. 

Reports from Reuters and Bloomberg have also highlighted similar trends, noting that oil prices have remained volatile in early 2026 due to production cuts and global demand pressures.

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If prices reach the projected GH¢18 per litre mark, it will likely have a direct impact on transportation costs, food prices, and the general cost of living.

Transport operators are expected to review fares, while businesses that rely on fuel for operations may pass on the increased costs to consumers.

COPEC has in the past called for government intervention to cushion consumers, including reviewing taxes on petroleum products and stabilising the local currency.

Ghana has experienced several fuel price hikes over the years, often linked to global oil price trends and exchange rate pressures.

While there have been occasional reductions, increases tend to have a stronger and more immediate effect on everyday life.

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Industry watchers say unless there is a significant improvement in the cedi’s performance or a drop in global oil prices, fuel costs may continue to rise in the coming months.

Fuel pricing remains a sensitive issue in Ghana, as it affects nearly every sector of the economy. With April approaching, consumers and businesses alike are bracing for another possible increase at the pumps.

COPEC’s projection serves as an early warning, that is, one that could soon be felt across the country if current market conditions persist.