Fuel prices are set to rise sharply from April 1, 2026, with petrol and diesel expected to surge at the pumps.
According to the latest outlook report by the Chamber of Oil Marketing Companies (COMAC), a litre of petrol could rise by 8.06% to about GH¢15.19.
Diesel is projected to rise by 9.76%, pushing the price to around GH¢17.85 per litre.
Liquefied Petroleum Gas (LPG) is also expected to increase marginally, with a litre likely to sell at about GH¢16.59.
This will be the fifth projected increase in fuel prices since January 2026, and the second time this year that consumers are facing such a steep hike.
The development is likely to trigger fresh calls for transport fare adjustments by operators across the country.
The price surge has been driven largely by developments on the global market. Crude oil prices climbed sharply from $86.55 per barrel to $109.66 per barrel, amid rising geopolitical tensions in the Middle East and supply risks along key shipping routes such as the Strait of Hormuz.
International petroleum product prices have also risen significantly. LPG recorded the highest jump at 36.90%, followed by diesel at 27.84% and petrol at 24.48%.
At the same time, the Ghana cedi weakened slightly against major currencies. For the April 1 pricing window, the exchange rate moved from GH¢10.913 to GH¢11.050 to the US dollar, representing a 1.24% depreciation.
Analysts attribute the currency pressure to increased demand for foreign exchange by importers, high liquidity in the system and rising global oil prices, all of which are pushing up the cost of imports.
Meanwhile, the National Petroleum Authority has revised its minimum price floors for the new pricing window.
Petrol’s price floor has been increased from GH¢11.57 to GH¢13.30 per litre, while diesel recorded the largest adjustment, rising from GH¢14.35 to GH¢17.10 per litre — a jump of GH¢2.75 within two weeks.
LPG has also been adjusted slightly upward to GH¢10.71 per kilogramme.
In a directive to oil marketing companies, the Authority urged them to comply with the new price floors under the Petroleum Products Pricing Guidelines.
It clarified that the stated prices exclude additional premiums from international oil traders and margins set by bulk distributors and retail marketers, which will be determined independently.
The latest projections point to increased pressure on consumers and businesses, as rising fuel costs ripple through the economy.
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Source: www.myjoyonline.com