Petrol and diesel prices are set to decline marginally at the pump from Friday, October 16, 2026, while LPG will increase by 18.5% per kilogram, according to the Chamber of Oil Marketing Companies (COMAC).
Projected prices, according to the Chamber’s report: petrol will decline by 2% to GHC17.67 per litre, diesel by 3.32% to GHC19.30 per litre, while LPG will rise by 18.5% to GHC20.60 per kilogram.
The adjustments follow the October 1 pricing window, when most oil marketing companies held prices steady after a GHC2 diesel levy and government intervention, with Tema Oil Refinery and Sentuo Oil supplying refined products at previous prices.
COMAC attributed the changes to international market developments and government subsidy measures.
Average crude oil prices rose 2.03% to US$126.73 per barrel, driven by supply concerns over Ukraine questioning a US-backed energy ceasefire and attacks on Saudi Arabia amid the Iran conflict.
Refined product prices were mixed: LPG rose 7.77%, diesel fell 6.68%, and petrol fell 3.93%.
The cedi depreciated 1.61% to GHC11.8222 to the dollar (Sept. 26–Oct. 11 average bank rates) and has lost over 11% this year amid seasonal import demand and high energy costs.
The NPA lowered the petrol price floor from GHC16.45 to GHC16.09 per litre and the diesel floor from GHC17.97 to GHC17.09 per litre, but raised the LPG floor from GHC11.10 to GHC13.87 per kilogram.
These floors exclude IOTC premiums, BIDEC operating margins, and OMC/LPG marketing company margins, which the prescribed pricing formula sets independently.
