The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has urged the government to consider reducing the price of petrol by between 30 and 40 pesewas per litre to ease the financial burden on consumers.
The call comes amid expectations of higher petrol and diesel prices in Ghana from September 1, 2026, following increases in international crude oil prices and refined petroleum product costs.
The latest fuel pricing forecast from the Chamber of Oil Marketing Companies (COMAC) indicates that petrol prices could rise by 4.80%, while diesel prices are projected to increase by 2.10%.
Under the forecast, the price of petrol could rise to approximately GH¢16.39 per litre, while diesel is expected to reach about GH¢17.60 per litre.
COPEC Seeks Government Relief for Petrol Consumers
Speaking on Channel One Newsroom on Monday, August 31, Duncan Amoah acknowledged recent government measures aimed at cushioning consumers against rising fuel prices in Ghana.
He particularly cited the government’s decision to reduce the regulatory margin on diesel by GH¢2 per litre, describing it as an important intervention at a time when fuel costs are putting pressure on households and businesses.
However, Mr Amoah believes similar support should be extended to petrol users.
He is therefore calling on the government to introduce a 30 to 40 pesewas per litre reduction in petrol prices, arguing that petrol consumers should also benefit from measures designed to reduce the impact of rising petroleum prices.
Rising Global Oil Prices Could Push Fuel Prices Higher
The expected increase in Ghana’s petrol and diesel prices has been linked to higher global crude oil prices and rising international prices for refined petroleum products.
With Ghana importing a significant portion of its refined fuel requirements, changes in the international oil market can quickly affect prices at local fuel stations.
Duncan Amoah said government interventions demonstrate an understanding of the economic difficulties confronting consumers, while also highlighting the potential benefits of supplying crude oil to local refineries.
COPEC Advocates Stronger Local Refining Capacity
Beyond short-term fuel price interventions, COPEC is calling for sustainable measures to reduce Ghana’s exposure to international petroleum market pressures.
Mr Amoah stressed the importance of expanding local oil refining capacity and ensuring that a greater share of Ghana’s crude oil is processed domestically.
According to him, increasing domestic refining could help Ghana reduce its dependence on imported refined petroleum products, limit exposure to international market premiums and create greater stability in local fuel prices.
Strengthening Ghana’s petroleum refining industry could therefore play a major role in managing petrol prices, diesel prices and overall fuel costs in the long term.
The latest development has renewed calls for policies that protect consumers while supporting energy security, local refining, petroleum sector investment and affordable fuel prices in Ghana.
Source: newsthemegh.com