The Chamber of Oil Marketing Companies has released its Outlook Report on the expected price movements for the various petroleum products from September 1 to 16, 2026.
The data showed that petrol will go up by as much as 4.80%, with a litre likely to be sold at GHC 16.39.
Diesel should witness a 2.10% spike, with a litre going for GHC 17.60 per litre.
LPG, on the other hand, will go down by 0.93%, resulting in a kilogramme selling at GHC 13.73.
Reasons
According to the Chamber of Oil Marketing Companies, COMAC, the increase has been influenced by rising crude oil prices on the international market and higher prices of finished petroleum products.
It stated that international crude oil prices rose by 1.75%, as all refined petroleum products recorded increases. Petrol posted the highest rise at 8.86%, followed by diesel at 5.51% and LPG at 3.31%.
Average crude oil prices rose by 1.75%, from US$90.53/bbl to US$92.11/bbl, despite the United States announcing its toughest sanctions against Iran. The sanctions had limited immediate impact, as unsuccessful mediation by Qatar and Pakistan and uncertainty over Strait of Hormuz transits kept prices elevated.
All refined petroleum products increased, led by petrol at 8.86%, diesel at 5.51% and LPG at 3.31%.
The cedi appreciated by 3.64% to GH¢11.3697/US$ based on average bank rates between 12 and 27 August 2026.
This reversed three consecutive pricing windows of depreciation and marked its strongest level since June 2026.
The higher projected adjustments reflect rising global crude oil and refined product prices despite the cedi’s appreciation.
However, the government industry intervention will continue to moderate diesel price increases.
There are currently more than 200 oil marketing companies in the country, and there are strong indications that some of them will move quickly to adjust prices from 6 a.m. on September 1, 2026, while others may try to monitor competition before they review their prices at the pumps.
Government Subsidy
Based on our checks, the price of diesel would have been higher than what the Chamber of Oil Marketing Companies had projected for diesel. It is for this reason that a litre of diesel is likely to sell at GHC 17.60.
A highly placed government source today revealed to JOY BUSINESS that the government has taken the decision to extend its GH¢2 per litre reduction in the regulatory margin on diesel into the first pricing window of September, in a move aimed at cushioning consumers against rising fuel prices.
Government sources maintained that the intervention followed concerns over a possible increase in diesel prices at the pumps in the coming pricing window.
The reduction, which was introduced as a temporary measure covering two pricing windows, was originally expected to expire at the end of August.
Price Floor
The National Petroleum Authority has increased the price floor for the various petroleum products from September 1 to 16, 2026. Petrol will be sold at GH¢14.53, and diesel will be pegged at GH¢15.60.
This should mean that no oil marketing company should sell below these quotes from tomorrow, September 1, 2026.
This represents about a 4.38% increase with respect to the benchmark.
Diesel has also gone up from GH¢15.19 to GH¢15.60, representing a 2.69% increase.
LPG, however, has been reduced from GH¢10.98 to GH¢10.85 per kilogramme.
