The Chamber of Petroleum Consumers (COPEC) in Ghana has projected that petrol prices will decrease slightly, while diesel prices will increase, effective November 1, 2026. According to COPEC, petrol is expected to fall by 1.71% from its current mean price of GHS17.02 per litre to around GHS16.72 per litre. This decrease is attributed to a 4.45% drop in the Free On Board (FOB) price of petrol, which fell from $1,255.05 to $1,199.16 per metric tonne.
COPEC's forecast indicates that petrol prices could range from GHS15.89 to GHS17.57 per litre, within a ±5% range around its estimate. The expected decrease in petrol prices is also influenced by a roughly 0.6% appreciation of the cedi against the dollar. However, this appreciation only partially offsets the fall in the international benchmark. As a result, private motorists are likely to benefit from the projected price cut.
In contrast, diesel prices are expected to rise by 4.07% from the current mean price of GHS18.40 per litre to around GHS19.15 per litre. COPEC projects diesel prices to range from GHS18.19 to GHS20.11 per litre. The increase in diesel prices is attributed to a 2.71% rise in its FOB price, which increased from $1,414.78 to $1,453.07 per metric tonne.
The projected price changes are expected to have varying impacts on different sectors. Diesel, being the fuel most commonly used by commercial transport operators, haulage trucks, and vehicles moving goods between regions, will likely see a quick reflection in transport fares and the cost of goods reaching markets. On the other hand, the projected decrease in petrol prices will primarily benefit private motorists.
Fuel prices in Ghana are reviewed twice a month under a pricing window system managed by the National Petroleum Authority (NPA). The NPA oversees the licensing and monitoring of Oil Marketing Companies (OMCs) selling petroleum products at the pumps. Each pricing window reflects changes in the international cost of crude products and shifts in the cedi's exchange rate.
The Chamber of Petroleum Consumers (COPEC) is a lobby group that monitors fuel pricing trends in Ghana. According to COPEC's statement reported by MyJoyOnline, the expected price changes are based on the movement in the international market and the cedi's exchange rate. The group provides forecasts to help consumers and stakeholders prepare for the changes in fuel prices.
The price changes are set to take effect from November 1, 2026, and will be closely watched by consumers, transport operators, and other stakeholders. As Ghana's fuel market continues to respond to international and local factors, COPEC's forecasts provide valuable insights into the trends shaping the industry.
Key points
- COPEC forecasts a 1.71% decrease in petrol prices and a 4.07% increase in diesel prices in Ghana from November 1, 2026.
- The price changes are attributed to movements in the international market and the cedi's exchange rate.
- The changes in fuel prices are expected to have varying impacts on different sectors, including transport operators, haulage trucks, and private motorists.
