Petrol, diesel and LPG prices set to increase from July 16 - COMAC

The Chamber of Oil Marketing Companies (COMAC) has projected increases in the prices of petrol, diesel and liquefied petroleum gas (LPG) during the second pricing window in July, reversing earlier expectations of a reduction at the pumps.

According to COMAC's latest industry pricing outlook report released on Wednesday, July 15, 2026, petrol is expected to increase by between 3.79% and 5.31%, with a litre likely to retail at about GH¢14.52.

Diesel is also projected to rise by about seven pesewas per litre to around GH¢16.00, while LPG is expected to increase by between 1.10% and 1.30% per kilogram.

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The Chamber attributed the projected increases to renewed geopolitical tensions that have pushed up international crude oil and refined petroleum product prices amid concerns over supply disruptions and shipping security through the Strait of Hormuz.

COMAC explained that although crude oil prices initially declined from an average of US$78.12 per barrel to US$71.90 per barrel, the market rebounded following reports of a ceasefire breach on July 7 and 8. By July 14, Brent crude had climbed above US$84 per barrel after reports of Iranian missile strikes on two UAE oil tankers.

The Chamber also noted that the Ghana cedi weakened slightly during the pricing period. The exchange rate moved from GH¢11.4333 to GH¢11.4970 to the US dollar, representing a depreciation of 0.55%, which added further upward pressure on local fuel prices.

Diesel recorded the largest increase on the international market at 8.14%, followed by petrol at 4.96%, while LPG prices declined marginally by 0.92%.

Meanwhile, the National Petroleum Authority (NPA) has increased its price floors for the second pricing window in July, reinforcing expectations of higher pump prices nationwide.

The price floor for petrol has been revised upward from GH¢12.79 to GH¢13.28 per litre, representing a 3.83% increase, while diesel's price floor has risen from GH¢13.54 to GH¢14.35 per litre, a 5.98% increase. The LPG price floor has also been adjusted upward by 0.79% per kilogram.

The revised NPA price floors are expected to take effect from Thursday, July 16, with consumers likely to pay more for petrol, diesel and LPG across the country.

ANAS/MA