Prices of petrol and diesel are expected to fall marginally at the pumps from Friday, October 16, 2026, while liquefied petroleum gas (LPG) could see an increase of 18.5 per cent per kilogram.
This is according to the pricing outlook for the next window released by the Chamber of Oil Marketing Companies (COMAC).
Petrol is projected to decline by almost 2 per cent to GH¢17.67 per litre, while diesel is expected to fall by 3.32 per cent to GH¢19.30 per litre.
LPG, however, is expected to increase by 18.5 per cent to GH¢20.60 per kilogram.
During the October 1 pricing window, most oil marketing companies maintained prices following the introduction of a GH¢2 levy on diesel and a government intervention in which the Tema Oil Refinery and Sentuo Oil supplied refined products to the companies at previous prices.
The Chamber attributed the projected adjustments to developments on the international market and recent government subsidy measures.
In its report, it said average crude oil prices rose by 2.03 per cent to US$126.73 per barrel for the October 16 pricing window.
The increase was attributed to renewed supply concerns, after Ukraine questioned a proposed US-backed energy ceasefire and Saudi Arabia faced fresh attacks amid the war with Iran.
Prices of refined petroleum products, however, recorded mixed movements, with LPG rising by 7.77 per cent, while diesel fell by 6.68 per cent and petrol declined by 3.93 per cent.
Meanwhile, the Ghana cedi depreciated by 1.61 per cent to GH¢11.8222 to the US dollar, based on average bank rates between September 26 and October 11, 2026.
The Chamber said the cedi has lost more than 11 per cent against the dollar so far this year, with seasonal import demand and higher energy costs continuing to put pressure on the currency.
Despite these developments, petrol and diesel prices are expected to see only modest reductions at the pumps, in line with projections from several analysts earlier this month.
NPA lowers petrol and diesel price floors
The National Petroleum Authority (NPA) has also reduced the minimum prices for petrol and diesel for the October 16 pricing window.
Market data indicates that petrol price floor has been lowered from GH¢16.45 to GH¢16.09 per litre.
The diesel price floor has also been reduced from GH¢17.97 to GH¢17.09 per litre.
The LPG price floor, however, has increased from GH¢11.10 to GH¢13.87 per kilogram.
The NPA says these price floors exclude premiums charged by International Oil Trading Companies, operating margins of Bulk Import, Distribution and Export Companies, and margins charged by Oil Marketing Companies and LPG Marketing Companies.
Those charges will be determined independently by the respective companies in accordance with the prescribed Petroleum Products Pricing Formula.
