Petrol Prices Expected to Rise as New Fuel Pricing Cycle Begins
June 1,2026
Consumers are likely to experience an increase in petrol prices as Ghana’s latest fuel pricing window takes effect today, June 1, 2026, according to projections from the Chamber of Oil Marketing Companies (COMAC).
The latest outlook suggests that petrol prices could increase by between 4.2% and 6.2%, potentially pushing pump prices to approximately GH¢15.92 per litre. Liquefied Petroleum Gas (LPG) is also expected to record a modest increase of up to 2.24%, with prices projected to reach around GH¢17.30 per kilogram.
Diesel users, however, may benefit from a slight reduction in prices. Industry forecasts indicate that diesel could decline by between 1.65% and 2%, bringing the average retail price to about GH¢17.21 per litre.
COMAC attributed the anticipated price adjustments to developments in the global petroleum market, exchange rate fluctuations, and ongoing government interventions designed to ease the burden on consumers.
The Chamber explained that the Joint Government-Industry fuel support programme introduced in May continues to influence pricing trends. While support on petrol has been completely withdrawn, assistance on diesel has been reduced to GH¢1.07 per litre.
According to COMAC, these interventions have helped moderate the impact of international market volatility, preventing consumers from bearing the full cost of global fuel price movements.
On the international market, crude oil prices declined marginally during the latter part of May. However, refined petroleum products recorded mixed trends, with petrol prices rising while diesel and LPG prices registered declines.
Meanwhile, the Ghana cedi weakened slightly against major trading currencies ahead of the new pricing window, moving from GH¢11.30 to GH¢11.59 against the US dollar. Analysts attribute the depreciation to increased demand for foreign exchange, dividend repatriation, challenges in gold exports, and cautious market interventions by the Bank of Ghana.
The National Petroleum Authority (NPA) has also announced revised benchmark price floors for the June 1–16 pricing period. Under the new arrangement, petrol is not expected to be sold below GH¢15.20 per litre, while diesel has been assigned a minimum pump price of GH¢15.49 per litre.
The latest adjustments highlight the continued efforts by regulators and industry players to balance market realities with measures aimed at protecting consumers from sharp fuel price increases.
