The Chamber of Petroleum Consumers (COPEC) has projected a marginal increase in petroleum prices at the pumps from Thursday, July 16, 2026, during the second pricing window of July.
According to COPEC, the expected adjustment is mainly driven by increases in the international free-on-board (FOB) prices of petrol and diesel, coupled with a slight depreciation of the Ghana cedi against the United States dollar.
In a statement issued on Tuesday, July 14, COPEC noted that although global crude oil prices declined from about $78 per barrel to $71.90 per barrel within the period under review, other market factors could result in higher fuel prices locally.
“The Cedi witnessed a marginal depreciation against the US dollar to close trading from an average interbank rate of $1:GHS11.4333 at the start of the current window to $1:GHS11.4970 as of the close of the window,” COPEC stated.
The consumer advocacy group explained that petrol’s FOB price increased from $920.34 per metric tonne to $970.63 per metric tonne, representing a 5.4 per cent rise.
Based on the changes, COPEC projects that petrol could sell at an average retail price of GH¢13.84 per litre, representing a 4.65 per cent increase from the current mean price of GH¢13.23 per litre.
“Thus, the retail price of Petrol is expected to be selling between GHS13.15/L and GHS14.53/L, within a ±5% range of COPEC’s projection,” the statement added.
For diesel, COPEC said the FOB price recorded a significant increase from $896.02 per metric tonne to $974.40 per metric tonne, representing an 8.75 per cent jump.
The group projects that diesel could sell at an average price of GH¢14.91 per litre in the new window, with expected prices ranging between GH¢14.16 and GH¢15.65 per litre.
Meanwhile, LPG prices are expected to experience a marginal decline due to a slight reduction in its international FOB price.
COPEC said the FOB price of LPG fell from $548.50 per metric tonne to $545.65 per metric tonne, representing a 0.52 per cent decrease.
“With the international FOB price of LPG decreasing marginally and the cedi’s depreciation of about -0.56%, the projected retail price of LPG is expected to decrease marginally and sell at GH¢9.96/kg,” the statement said.
The organisation expects LPG prices to range between GH¢9.47 per kilogramme and GH¢10.46 per kilogramme.
“In conclusion, it is the expectation of COPEC that Oil Marketing Companies (OMCs) would respond positively by maintaining prices across board,” the statement concluded.
The expected upward adjustment could add further pressure on transport operators, businesses, and consumers, as fuel prices continue to influence the cost of goods and services across the economy.
