The Chamber of Petroleum Consumers Ghana (COPEC) has announced that fuel prices at the pumps are expected to rise marginally from Tuesday, September 1, 2026.
According to COPEC, the projected increases are expected to affect petrol, diesel and liquefied petroleum gas (LPG).
They detailed that the adjustments are largely driven by movements in international petroleum product prices, despite a recent appreciation of the Ghana cedi against the US dollar.
COPEC, in its analysis, disclosed that global crude oil prices fell marginally from $90.41 to $89.30 per barrel during the current pricing window.
“The cedi also strengthened against the dollar, with the average interbank rate improving from GH¢11.800 to GH¢11.5166 per dollar.
That represents an appreciation of about 2.39%.
Despite these developments, COPEC says changes in the Free-On-Board (FOB) prices of refined petroleum products are expected to push pump prices higher.
Petrol is projected to sell at about GH¢16.21 per litre, representing an estimated 5% increase from the current mean pump price of GH¢15.43.
Diesel is also expected to rise to approximately GH¢17.61 per litre.
That would represent an estimated 2.58% increase over the current mean price of GH¢17.17 per litre.
LPG is similarly projected to record a marginal increase, with COPEC estimating a price of approximately GH¢14.19 per kilogramme”, a JoyNews report stated.
Meanwhile, the International Monetary Fund (IMF) has warned the Mahama government that its recent fuel subsidy could damage Ghana’s fiscal gains.
According to the IMF, the recent fuel subsidy measures must remain temporary and carefully targeted not to undermine Ghana’s fiscal gains.
The IMF warning was contained in its Staff Report submitted to the Fund’s Executive Board on July 27 ahead of Ghana’s Sixth Review under the Extended Credit Facility (ECF) programme.
The IMF Staff Report acknowledged Ghana’s improving macroeconomic outlook but warned that fuel subsidies should not become a permanent policy tool.
Parts of the report stated, “The recent fuel subsidy measures must be temporary and well targeted.”
“Ghana’s near-term growth and inflation outlook is favourable but subject to elevated downside risks.”
In related news, the prices of fuel in Ghana have risen by over 33% since the start of January 2026.
In early January 2026, petrol (super/regular) was around GH¢9.99–GH¢11 per litre in January 2026 (with some stations/promotions near or below GH¢10), while diesel was typically GH¢10.97–GH¢12 per litre.
However, as of mid-August 2026, average pump prices were roughly GH¢15.98 per litre for petrol and GH¢17.30 per litre for diesel.
The continuous hikes in petrol and diesel prices have been piling pressure on Ghanaian households and businesses.
According to reports, two main forces have driven the surge. The cedi has weakened by more than 10% against the U.S. dollar since the start of the year due to Ghana importing refined petroleum products priced in dollars; a weaker currency feeds almost directly into pump prices.
The second is driven by the Middle East crisis. The month-long conflict has pushed crude prices sharply higher earlier in the year, and prices have remained elevated amid tensions around the Strait of Hormuz.
Ghana’s Authorities had cut industry margins to soften an earlier crude spike; however, such steps come at a cost to revenue.
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