The Chamber of Petroleum Consumers (COPEC) has projected a possible increase in fuel prices in Ghana from September 16, 2026, following a sharp rise in international crude oil prices.
COPEC Executive Secretary, Duncan Amoah, said the recent increase in Brent crude oil prices, which have crossed the US$100 per barrel threshold, could push up prices of petroleum products at fuel stations across Ghana.
According to him, the impact of higher crude oil prices is likely to be reflected during the second pricing window of September, particularly because market and importation premiums remain relatively high.
Crude Oil Prices Could Push Fuel Prices Higher
Duncan Amoah explained that changes in global crude oil prices do not immediately translate into higher petrol and diesel prices in Ghana because the effect normally takes several days to move through the refining, importation and distribution chain.
He therefore expects the latest surge in crude oil prices to begin affecting the local petroleum market around September 16, when the second pricing window for the month begins.
He noted that the development is one of the key indicators suggesting that fuel prices could rise in Ghana during the next pricing window.
Petrol Prices May Increase
The COPEC Executive Secretary warned that consumers could pay more for petrol in Ghana if international crude oil prices remain elevated.
He said the potential increase could add to existing pressure on consumers because petroleum marketers are already dealing with relatively high market premiums and importation premiums.
The combination of rising global oil prices and elevated importation costs, he explained, could result in an upward adjustment in local fuel prices.
Transport Fares Remain Unchanged
Duncan Amoah also commented on the decision by transport operators to maintain the existing public transport fares despite developments in the petroleum market.
He described the decision as positive news for commuters in the short term, as an immediate increase in transport fares would place additional financial pressure on passengers.
However, he questioned how long transport operators would be able to maintain the current fares if petrol and diesel prices increase further.
The development will be closely watched by motorists, transport operators and businesses as Ghana approaches the second fuel pricing window in September, with global crude oil prices remaining a major factor in determining prices at the pumps.
Source: newsthemegh.com