Fuel Prices Set to Rise as September’s Second Pricing Window Opens

Motorists and other petroleum consumers are expected to face higher fuel prices as Ghana enters the second pricing window for September 2026.

The latest outlook from the Chamber of Oil Marketing Companies (COMAC) projects increases across major petroleum products, largely reflecting higher international crude oil and refined petroleum prices amid renewed tensions in the Middle East.

Petrol prices are projected to rise by 9.63%, while diesel could increase by 6.97%. Liquefied Petroleum Gas (LPG) is also expected to record a 3.22% increase.

Based on COMAC’s projected cash-purchase ex-pump prices, petrol could sell at approximately GH¢17.23 per litre, with diesel reaching about GH¢18.35 per litre.

However, the National Petroleum Authority (NPA) has set price floors of GH¢16 per litre for petrol and GH¢16.77 per litre for diesel for the second September pricing window.

These price floors do not necessarily represent the final amounts consumers will pay, as pump prices are influenced by other components of the petroleum pricing structure.

Transport Fares Under Pressure

The projected increase in fuel prices could raise operating costs for motorists, transport operators and businesses that rely heavily on road transportation.

The Ghana Private Road Transport Union (GPRTU) has already indicated that transport fares could rise by 25% to 30% if the expected fuel price increases materialise.

Businesses dependent on diesel-powered equipment and road transportation could also face higher production, logistics and distribution costs, potentially putting additional pressure on the prices of goods and services.

Global Oil Prices Remain Elevated

The development comes as international crude oil prices remain high. Brent crude has remained above $100 per barrel, with prices hovering around $108 per barrel, while refined petroleum product prices have also increased.

Given Ghana’s dependence on imported petroleum products, sustained increases on the international market could continue to put pressure on domestic pump prices, particularly if movements in the cedi do not offset the higher import costs.

There are also concerns that prolonged elevated global oil prices could push local fuel prices back towards levels seen in 2022, when some petroleum products exceeded GH¢23 per litre.

Such an increase would mark a sharp reversal from the single-digit pump prices recorded earlier this year and could further increase pressure on transportation costs, business expenses and household budgets.