Diesel could rise to GH¢22.42 per litre while petrol may reach GH¢17.78 per litre from October 1, 2026, according to the Chamber of Petroleum Consumers (COPEC).
In a statement on Tuesday, September 29, COPEC projected a 22.91% increase in the average price of diesel, from GH¢18.24 to GH¢22.42 per litre.
Petrol is also expected to record a 5.21% increase, 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.
LPG is also projected to sell at GH¢15.68 per kilogramme from October 1.
COPEC further urged government to accelerate the expansion of the Tema Oil Refinery (TOR) from its current 45,000 barrels per day capacity 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 some of their margins to cushion consumers against the expected price increases.
