Petrol price jumps to GH¢17.91 as petroleum costs rise from Oct 1
COMAC forecasts modest hikes in fuel prices starting October 1, 2026, driven by global market shifts and cedi depreciation.
The Chamber of Oil Marketing Companies has warned that the average retail price of petrol will climb to about GH¢17.91 per litre on October 1, 2026, after a projected 3.31 percent rise.
Diesel is set to follow a steeper trajectory, with a potential increase of up to 5.60 percent that could lift it to roughly GH¢19.60 per litre. This would mark one of the highest diesel pump prices recorded in recent months.
Liquefied Petroleum Gas is also expected to rise by approximately 2.25 percent, reaching around GH¢17.06 per kilogram for consumers.
COMAC traced the upcoming adjustments to higher international crude oil prices and the continued weakening of the Ghanaian cedi against the US dollar. Data released by the Chamber indicated that average crude oil prices jumped 19.42 percent to US$124.20 per barrel during the October pricing window.
The Chamber further noted that refined petroleum products worldwide had all registered upward movements, with petrol climbing 2.43 percent, diesel 6.91 percent and LPG 8.55 percent in the latest global price surveys.
Currency instability amplifies the pressure. The cedi slipped 1.27 percent to GH¢11.6321 per US dollar between September 12 and 26, 2026, according to bank rate averages. This depreciation adds further cost to imported refined fuels.
Global factors, including tighter physical demand for crude and unresolved tensions in the Middle East, have also contributed to the upward trend. The United States' policy moves on fuel pricing remain uncertain, adding a layer of volatility to the market.
Petrol stations across the country are expected to adjust their pump prices within the first week of October 2026, pending approval from the Ministry of Energy.
