Diesel could rise to GH¢22.42 per litre while petrol may increase to GH¢17.78 per litre from October 1, 2026, the Chamber of Petroleum Consumers (COPEC) has projected.
In a statement issued on Tuesday, September 29, COPEC forecast a 22.91% increase in the average price of diesel, from GH¢18.24 to GH¢22.42 per litre.
Petrol prices are also expected to rise by 5.21%, moving from an average of GH¢16.90 to GH¢17.78 per litre.
COPEC attributed the projected increases to higher international petroleum prices and a marginal depreciation of the Ghana cedi against the US dollar.
“Global Crude price went up significantly from 124/barrel whilst the Cedi witnessed a marginal depreciation against the US dollar to close trading from an average interbank rate of 1:GHS11.6211(-1.20%) as of the close of window,” the Chamber said.
Liquefied petroleum gas (LPG) is also projected to sell at GH¢15.68 per kilogramme from October 1.
To help reduce pressure on consumers, COPEC urged the government to speed up the expansion of the Tema Oil Refinery (TOR), from its current refining capacity of 45,000 barrels per day to 100,000 barrels per day.
“Most importantly, government should make it a priority to speedily facilitate the expansion works at the Tema Oil Refinery (TOR) to move from the current 45,000 barrels per day refining capacity to 100,000 barrels per day,” it said.
The Chamber also appealed to oil marketing companies to absorb part of their margins to cushion consumers against the expected increases.
