Petrol prices in Ghana are expected to decline by up to 3.35 per cent per litre from November 1, 2026, while diesel and liquefied petroleum gas (LPG) prices are projected to increase, according to the Chamber of Oil Marketing Companies (COMAC).
Under the November 1–15 pricing window, petrol is expected to sell at an indicative price of GH¢17.02 per litre, representing a 3.35 per cent reduction. Diesel prices, however, are projected to increase by 1.50 per cent to GH¢18.99 per litre, while LPG is expected to rise by 0.81 per cent per kilogramme.
The actual prices at the pumps may vary depending on the pricing decisions of individual Oil Marketing Companies (OMCs).
International market trends influence prices
COMAC attributed the projected adjustments to movements in international petroleum product prices, the appreciation of the cedi and government-industry interventions aimed at cushioning consumers against rising fuel costs.
During the review period, crude oil prices declined by 1.90 per cent, while international petrol prices dropped by 4.97 per cent. Diesel prices, on the other hand, increased by 3.54 per cent, with LPG recording a sharper rise of 21.33 per cent.
The cedi also appreciated by 0.70 per cent against the US dollar, trading at an average of GH¢11.7326 to the dollar between October 12 and October 27, 2026.
According to COMAC, foreign exchange interventions by the Ghana Gold Board over the past three weeks have provided some support for the local currency. The chamber also cited a planned US$1.5 billion injection to support the cedi’s recovery and stability ahead of the festive season.
Government intervention to cushion diesel prices
COMAC said government-industry measures would help moderate the projected increase in diesel prices and prevent consumers from bearing the full impact of rising international costs.
Adjustments to the Energy Sector Shortfall and Debt Repayment Levy (ESSDRL), alongside selected statutory margins in the diesel price build-up, will remain in effect for one month.
“The total value of the intervention remains unchanged, maintaining the Government–industry burden-sharing arrangement introduced on 16 April 2026 to moderate increases in diesel prices at the pumps,” COMAC said.
NPA reduces petrol price floor
Meanwhile, the National Petroleum Authority (NPA) has announced new minimum price floors for petroleum products under the November 1 pricing window.
Data obtained by JoyBusiness indicates that the minimum price for petrol has been reduced from GH¢16.09 to GH¢15.39 per litre.
The diesel price floor has increased from GH¢17.09 to GH¢17.41 per litre, while that of LPG has declined from GH¢13.89 to GH¢13.73 per kilogramme.
The NPA’s price floors represent the minimum permissible prices and should not be confused with the final retail prices charged at fuel stations.
The Authority explained that the figures exclude premiums charged by International Oil Trading Companies, operating margins of Bulk Import, Distribution and Export Companies, as well as margins applied by Oil Marketing Companies and LPG Marketing Companies.
These charges will be independently determined by the respective companies in accordance with the prescribed Petroleum Products Pricing Formula.
Story by Ama Frimpomaa