The Chamber of Oil Marketing Companies (COMAC) has projected an increase in ex-pump prices of petrol, diesel and liquefied petroleum gas (LPG) for the first pricing window of August 2026, citing escalating geopolitical tensions and rising international petroleum prices.According to COMAC’s latest pricing outlook, petrol prices are expected to increase by between 4.89% and 7.58%, while diesel could rise by 5.64% to 12.50%. LPG prices are also projected to increase by 3.44% to 4.13%.
The Chamber attributed the anticipated increases to the escalating conflict between the United States and Iran, which has pushed up international crude oil and refined petroleum product prices. It also pointed to growing concerns over supply disruptions, rising freight costs and heightened security risks to shipping through the Strait of Hormuz.COMAC noted that international crude oil prices recorded a sharp average increase of 23.25% during the pricing period under review.Similarly, refined petroleum products posted significant gains, with diesel recording the highest increase of 24.84%, followed by petrol at 12.58% and LPG at 12.24%.
The Chamber further indicated that the Ghana cedi depreciated marginally against the US dollar during the review period, adding further pressure to domestic fuel prices. The exchange rate moved from GHS11.4970 to GHS11.6593 per US dollar, representing a 1.41% depreciation ahead of the first pricing window of August 2026
.COMAC said the combined effect of higher international oil prices and the slight depreciation of the local currency is expected to drive the upward adjustment in fuel prices at the pumps.
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