Prices of petroleum products in Ghana are expected to increase significantly from February 1, 2026, driven by the depreciation of the Ghanaian cedi and rising international crude oil prices, according to the Chamber of Oil Marketing Companies (COMAC).
Petrol prices are expected to increase by up to 2.10% to GH¢11.48 per litre. Diesel prices are projected to rise by 4.00-5.10%, with a litre likely to sell for around GH¢12.77. Liquefied Petroleum Gas (LPG) is expected to increase by 0.61%, resulting in a kilogram selling at approximately GH¢13.50.
The cedi has depreciated by about 4% against the US dollar since January 1, 2026, due to increased demand from businesses and multinational companies making foreign transfers. Crude oil prices have surged to nearly 70 dollars per barrel, driving up international refined petroleum product prices.
COMAC cites the cedi’s depreciation and rising crude oil prices as main drivers. Crude prices have rebounded due to disruptions in Kazakh exports, tightening global energy markets, and US-Iran tensions.
Despite projected increases, intense competition in the downstream petroleum sector may lead some oil marketing companies to keep pump prices unchanged.
