Prices of petroleum products will rise marginally starting February 16, 2026, according to the latest outlook report from the Chamber of Oil Marketing Companies (COMAC). This report, which guides pricing for oil marketing companies, was reviewed by Joy Business.
This is the second projected fuel price hike, driven mainly by the Ghanaian cedi’s depreciation and rising costs of finished petroleum products and crude oil. The cedi has faced pressure since January 1, 2026, due to businesses restocking and multinationals making dividend-related foreign transfers. Bank of Ghana data shows a 4% drop against the US dollar in January, while commercial bank figures indicate 4.16%.
Projected Price Hikes
COMAC forecasts these changes, tempered by an oversupply of refined products that may limit pump price increases:
Petrol: Up 1.97%, to GH¢11.97 per litre.
Diesel: Up 2.73%, to GH¢13.09 per litre.
LPG: Up 3.26%, to GH¢13.93 per kilogram.
Reasons for the Increases
The hikes stem from the cedi’s 0.77% depreciation from GH¢10.90 to GH¢10.98 in the February 1 window, plus global surges: crude oil up over 5% to near $70 per barrel; finished products up 4.17% (petrol), 5.57% (gas oil), and 6.18% (LPG).
COMAC notes Bank of Ghana assurances on price stability and growth. Fierce competition may prompt some companies to hold prices steady or delay adjustments, watching major players first. Pricing remains crucial for sales volumes, market share, and profitability.
New Price Floors for February 16
COMAC urges compliance with National Petroleum Authority guidelines (excluding premiums, BIDEC margins, and OMC/LPGMC margins):
Petrol (PMS): GH¢10.24 per litre.
Diesel (AGO): GH¢11.34 per litre.
LPG: GH¢9.43 per kilogram.
MGO Local: GH¢10.45 per litre.
Kerosene: GH¢9.21 per litre.
Adhering to these floors ensures market stability, consumer protection, and industry fairness.
Story by : Mercy Addai Turkson #ahotorfmonline.com