The Chamber of Petroleum Consumers (COPEC) has projected a slight increase in petroleum prices from the first pricing window in March 2026.
According to a COPEC announcement dated February 25, the price of petrol may rise by approximately 3.59 percent, while the price of diesel is expected to climb by 1.52 percent. However, it is anticipated that liquefied petroleum gas (LPG) will see a slight decrease at the pumps of roughly 1.57 percent.
Despite a minor cedi appreciation, the anticipated adjustments are primarily caused by small increases in global fuel prices. Global crude oil prices increased by almost 1.25 percent over the review period, from $70.90 to $71.79 per barrel, according to COPEC’s data.
The cedi gained somewhat against the US dollar during that time, rising by roughly 0.24 percent.
Following the worldwide free-on-board (FOB) price increase of 5.03%, from $652.64 to $685.27 per metric tonne, it is anticipated that petrol prices will rise. Accordingly, it is anticipated that gasoline will retail for between GH¢11.80 and GH¢13.00 per litre.
Following a 2.29 percent increase in the worldwide FOB price, from $695.94 to $711.86 per metric tonne, diesel prices are also expected to climb marginally. Retail prices for diesel are anticipated to range from GH¢12.73 to GH¢14.00 per litre.
LPG prices, on the other hand, are expected to slightly decline. In addition to the cedi’s appreciation, COPEC pointed out that the worldwide FOB price of LPG fell by almost 1.5%, from $508.77 to $503.59 per metric tonne. This might cause retail prices to drop to between GH¢11.48 and GH¢12.69 per kilogramme.
In order to lessen the burden on consumers, COPEC has advised oil marketing businesses to preserve price stability wherever feasible, even in the face of the expected rises in the price of petrol and diesel.
Source: newsthemegh.com