Motorists could see some relief at the pumps from Monday, August 17, as petrol prices are projected to fall by as much as 2.90%, although diesel users face a possible increase under the latest petroleum pricing window.
Projections from the Chamber of Oil Marketing Companies (COMAC) put the indicative price of petrol at about GH¢15.82 per litre, while diesel is expected to rise by 1.39% to approximately GH¢17.73 per litre.
Liquefied Petroleum Gas (LPG) is also projected to record a marginal decline of 0.93%, bringing the indicative price to about GH¢16.21 per kilogramme.
Despite the projections, consumers may not immediately see the expected changes at all filling stations.
The Chief Executive Officer of the Chamber of Petroleum Consumers (COPEC) has indicated that many Oil Marketing Companies (OMCs) could maintain their existing pump prices rather than adjust them during the pricing window.
With more than 200 OMCs operating across Ghana, individual companies have some flexibility in determining their retail prices within the applicable regulatory framework.
The projected mixed movement has been largely attributed to developments on the international petroleum market.
COMAC data show that average crude oil prices increased by 2.02% to US$90.41 per barrel in mid-August amid geopolitical tensions and concerns over possible supply disruptions around the Strait of Hormuz.
Refined petroleum products, however, moved in different directions on the international market.
Diesel prices increased by 2.86%, while petrol and LPG declined by 5.46% and 2.54%, respectively, providing some room for reductions in the domestic prices of petrol and cooking gas.
COMAC attributed the volatility to uncertainty surrounding tensions between the United States and Iran, coupled with higher international crude oil prices.
The Chamber said government-industry interventions are expected to continue cushioning consumers against the full impact of increases in diesel prices.
The performance of the Ghana cedi could also provide further relief in subsequent pricing windows if its recent appreciation against the US dollar is sustained.
The cedi depreciated by 1.20% to an average of GH¢11.7995 to the dollar between July 27 and August 11, 2026, but subsequently strengthened, with the Bank of Ghana rate reaching GH¢10.9855 to the dollar on August 14.
NPA Cuts Fuel Price Floors
Meanwhile, the National Petroleum Authority (NPA) has significantly reduced the minimum prices at which petroleum products can be sold during the second pricing window of August.
Data available to MyDailyNews Online indicate that the petrol price floor has been reduced from GH¢14.53 to GH¢13.92 per litre, representing a GH¢0.61 decline, or about 4.1%.
The diesel price floor has seen a sharper reduction, falling from GH¢16.97 to GH¢15.19 per litre. This represents a decrease of GH¢1.78, or approximately 10.48%.
The LPG price floor has also been reduced marginally from GH¢11.06 to GH¢10.98 per kilogramme.
The NPA has reminded OMCs and LPG Marketing Companies that petroleum products must not be sold below the approved minimum prices during the pricing window.
Despite the lower price floors and projected reduction in petrol and LPG prices, actual prices at filling stations will depend on decisions taken by individual marketing companies, with some expected to maintain their existing prices.
