Fuel prices in Ghana are set for a mixed shift from Saturday, August 16, as petrol and liquefied petroleum gas (LPG) record modest gains while diesel edges lower.
According to the Chamber of Oil Marketing Companies (COMAC), pump prices for petrol are projected to increase between 0.39% and 2.71%, with LPG up 0.15% to 2.34%. Diesel, in contrast, is expected to ease by 0.21% to 0.72%.
COMAC attributes the price movements to a combination of global market trends, exchange rate shifts, and product-specific supply-demand factors.
“Following the slight dip in crude prices, diesel fell sharply by 5.22%, while petrol and LPG rose marginally by 1.89% and 2.87%, likely due to product-specific demand and supply factors,” the Chamber noted.
The exchange rate also played a role. For the first August pricing window based on average rates from July 27 to August 12 the cedi slipped 0.87% against the US dollar, moving from GH₵10.68 to GH₵ 10.77. COMAC said this “added mild upward pressure on import costs.”
On the international market, Brent crude edged down 0.23% from $70.42 to $70.26 per barrel, pressured by increased production from OPEC+ and non-OPEC suppliers, subdued futures market sentiment, and reduced speculative positions. While global diesel prices fell 5.22%, petrol and LPG prices rose 1.89% and 2.87% respectively, mirroring the local projections.
COMAC concluded that the expected price adjustments “broadly align with prevailing global market trends,” with only marginal increases anticipated for petrol and LPG in the second pricing window of August.
