Petroleum product prices in Ghana are set to rise marginally starting February 16, 2026, according to the latest outlook report from the Chamber of Oil Marketing Companies (COMAC), which informs pricing decisions for oil marketing companies.

This would mark the second projected increase in fuel prices this year, largely driven by the depreciation of the Ghanaian cedi and rising international crude oil and finished petroleum product prices.

Cedi under pressure

Since January 1, 2026, the cedi has weakened due to heightened demand from businesses restocking for the year and multinational companies making foreign transfers for dividend payments. January economic data from the Bank of Ghana indicate that the cedi depreciated by around 4 percent against the US dollar, while commercial bank data show a 4.16 percent drop.

Projected price increases

COMAC projections for the February 16 pricing window include:


  • Petrol (PMS): Up 1.97%, likely selling at GH¢11.97 per litre


  • Diesel (AGO): Up 2.73%, expected at GH¢13.09 per litre


  • Liquefied Petroleum Gas (LPG): Up 3.26%, around GH¢13.93 per kilogram

However, COMAC noted that an oversupply of refined petroleum products in the local market could moderate these increases, leading to only marginal adjustments at the pumps.

Drivers of the price hikes

According to COMAC, the increases are mainly due to the cedi’s depreciation over the past two weeks and surging international prices of crude and finished petroleum products. During the February 1 pricing window, the cedi fell from GH¢10.90 to GH¢10.98 against the dollar, a 0.77 percent decline.

International crude oil prices have risen by more than 5 percent, trading close to US$70 per barrel. Finished petroleum products have also increased, with petrol up 4.17%, gas oil by 5.57%, and LPG by 6.18%.

Despite these pressures, intense competition in the downstream petroleum sector may lead some oil marketing companies to maintain current pump prices. Industry sources suggest that certain companies could delay price adjustments from February 16, observing the response of major competitors before making changes.

Compliance and price floors

COMAC reminded all oil marketing companies (OMCs) and LPG marketers to adhere to established price floors under the Petroleum Products Pricing Guidelines (PPPG), as issued by the National Petroleum Authority:


  • Petrol (PMS): Minimum GH¢10.24 per litre


  • Diesel (AGO): Minimum GH¢11.34 per litre


  • LPG: Minimum GH¢9.43 per kilogram


  • MGO Local: Minimum GH¢10.45 per litre


  • Kerosene: Minimum GH¢9.21 per litre

The price floors exclude premiums charged by international oil trading companies, operating margins of BIDECs, and the marketers’ and dealers’ margins of OMCs and LPGMCs, which are independently determined by each company.

COMAC emphasized that strict compliance with these price floors is essential for maintaining market stability, protecting consumers, and ensuring fairness across the petroleum sector.