The Chamber of Oil Marketing Companies (COMAC) says all major petroleum products recorded increases in the latest pricing window, driven largely by higher international crude oil and refined product prices, as well as a weaker Ghana cedi.
For the October 1–15, 2026 pricing window, petrol prices increased by between 2.12% and 3.31%, while diesel prices rose by 3.32% to 5.60%. Liquefied Petroleum Gas (LPG) prices also recorded an increase of between 1.90% and 2.25%.
COMAC attributed the upward adjustments to developments in the international crude oil market, including supply disruptions linked to tensions in the Middle East.
The Chamber said average crude oil prices increased by 19.42% to US$124.20 per barrel, reflecting stronger demand for physical crude despite expectations of easing geopolitical tensions.
It noted that uncertainty surrounding a possible US-Iran ceasefire, coupled with reports of setbacks in negotiations, has kept oil market traders cautious.
According to COMAC, developments surrounding the potential reopening of the Strait of Hormuz have also contributed to volatility in the global oil market.
Cedi depreciation adds pressure
The Chamber further said the Ghana cedi depreciated by 1.27% to GH¢11.6321 to the US dollar, based on average bank rates between September 12 and 26, 2026.
The depreciation represents a gradual reversal of some of the cedi’s earlier gains in 2026 and has added pressure to domestic petroleum prices.
COMAC said the combination of higher global crude oil and refined petroleum product prices and the weaker local currency is responsible for the projected increases at the pumps.
The Chamber, however, indicated that ongoing government–industry interventions could help moderate further increases in diesel and other petroleum products, depending on developments in the international market.
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