Petroleum prices expected to rise marginally from September 1 - COPEC

• Petrol prices are projected to rise to about GH¢16.21 per litre from September 1, 2026, a 5% increase from the current mean price.

• Diesel and LPG are also expected to increase, with projected prices of GH¢17.61 per litre and GH¢14.19 per kilogramme, respectively.

• COPEC has urged the government to extend its fuel subsidy beyond August and called on OMCs to maintain the current diesel price to cushion consumers.

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

The projection indicates that petrol, diesel and Liquefied Petroleum Gas (LPG) could all see adjustments in the first pricing window of September.

COPEC said the expected changes are largely influenced by movements in international petroleum prices and the exchange rate.

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According to the analysis, the global crude oil price declined marginally from US$90.41 per barrel to US$89.30 per barrel during the current pricing window.

At the same time, the Ghana cedi appreciated against the US dollar, with the average interbank exchange rate improving from GH¢11.80 to US$1 at the start of the current window to GH¢11.5166, representing an appreciation of about 2.39%.

For petrol, COPEC said the Free on Board (FOB) price increased significantly from US$1,033.15 per metric tonne to US$1,136.50, representing a 10% increase.

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After taking the cedi's 2.39% appreciation into account, the projected retail price of petrol is expected to rise to about GH¢16.21 per litre, up by 5% from the current mean price of GH¢15.43 per litre.

COPEC therefore expects petrol to sell between GH¢15.40 and GH¢17.02 per litre, within a ±5% range of its projection.

The international FOB price of diesel, however, declined marginally from US$1,251.19 per metric tonne to US$1,250.50, representing a decrease of about 0.055%.

Despite the slight decline in the international benchmark, COPEC projects the retail price of diesel at approximately GH¢17.61 per litre, representing a 2.58% increase from the current mean price of GH¢17.17 per litre.

COPEC is also appealing to Oil Marketing Companies (OMCs) to maintain the current ex-pump price of diesel to cushion consumers from additional costs.

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For LPG, the international FOB price increased from US$596 to US$611 per metric tonne, representing a 2.64% increase.

Taking the movement in the exchange rate into account, COPEC projects the retail price of LPG at approximately GH¢14.19 per kilogramme.

Within a ±5% margin, LPG is expected to sell between GH¢13.48 and GH¢14.90 per kilogramme.

COPEC is also appealing to the government to extend its subsidy intervention beyond the August deadline.

The chamber said the extension would help cushion consumers until global petroleum benchmarks return to more normal levels.

It further urged OMCs to consider maintaining the current ex-pump price of diesel to ease the financial burden on consumers as the new pricing window begins.