Petroleum product prices in Ghana are projected to increase slightly effective March 1, 2026, according to the latest pricing outlook released by the Chamber of Oil Marketing Companies (COMAC), which guides pricing decisions for oil marketing companies (OMCs).
This marks the third consecutive upward adjustment since January 2026. The latest forecast attributes the expected rise primarily to:
Sustained increases in global crude oil prices (Brent crude trading near seven-month highs around $71 per barrel, with some analysts projecting a climb toward $100 amid speculation of potential US military action against Iran)
Upward movements in prices of finished petroleum products on the international market
Projected Price Changes (Effective March 1, 2026)
- Petrol (Super): Expected to rise by 2.89%, reaching approximately GH¢12.04 per litre
- Diesel: Projected increase of 0.86%, likely selling around GH¢13.22 per litre
- LPG (Liquefied Petroleum Gas): For the first time this year, a marginal decrease of 1.05% is anticipated, with pumps expected to sell at GH¢13.87 per kilogram
COMAC and market analysts note that the projected increases could have been significantly higher without the recent marginal appreciation of the cedi against major trading currencies. During the March 1 pricing window:
- The cedi strengthened from GH¢11.09 to GH¢11.04 per US dollar (a 0.45% gain)
- Similar modest gains were recorded against the British pound and euro
Databank’s market research report attributes this cedi resilience to broader dollar weakness and external support affecting several sub-Saharan African currencies.
While the COMAC outlook provides the pricing window benchmark, not all major OMCs may immediately implement the full increases from March 1 or over the weekend. Some companies may absorb part of the rise temporarily or phase it in gradually, depending on their stock levels, competitive positioning, and internal pricing strategies.
The National Petroleum Authority (NPA) continues to monitor pump prices closely and can intervene through price modulation or directives if deemed necessary to protect consumers.
The upward pressure on fuel prices comes amid ongoing global energy market volatility, including geopolitical tensions in the Middle East and speculation around potential supply disruptions. Domestically, the government has maintained that recent macroeconomic improvements — including cedi appreciation, improved foreign reserves, and fiscal discipline — have helped cushion the impact of international price shocks compared to previous years.
Consumers and transport operators are already bracing for the marginal hike, particularly on petrol and diesel, which directly affect transport fares, food prices, and overall cost of living.
The Ministry of Energy and NPA are expected to issue official guidance or confirmation on the new pricing window in the coming days. Motorists and households are advised to monitor updates from accredited OMCs and official sources for the exact pump prices effective March 1, 2026.
