Some Oil Marketing Companies (OMCs) in Ghana have begun adjusting fuel prices at the pumps starting March 1, 2026, amid rising global oil costs and ongoing Middle East tensions.

Industry projections suggest that petroleum product prices could increase by 1% to 3% per litre. A check by Joy Business on March 2 revealed that GOIL has raised its petrol price to GH¢10.46 per litre, up from GH¢10.24, while diesel remains unchanged at GH¢12.53 per litre. GOIL noted that these prices reflect discounts at 200 of its service stations nationwide, meaning prices at other stations could be higher.

The company’s petrol pricing aligns with the National Petroleum Authority (NPA) price floor of GH¢10.42 per litre, while diesel is priced above the floor of GH¢11.42 per litre. Other major OMCs indicated they may adjust prices in the coming days, monitoring competitor actions before finalizing changes.

Reason for Price Adjustments


The price increases are largely driven by rising crude oil and finished petroleum product prices in the international market over the past two weeks. Analysts note that the increase could have been steeper if not for the cedi’s slight appreciation during the period.

According to the Chamber of Oil Marketing Companies (COMAC), petrol prices could rise by 2.89%, potentially reaching GH¢12.04 per litre, while diesel may increase by 0.86%, selling at around GH¢13.22 per litre. Conversely, LPG prices are expected to fall slightly to GH¢13.87 per kilogram, marking the first reduction this year.

Global oil prices also surged amid current Middle East tensions, with Brent crude trading at US$78 per barrel as of March 2, 2026. Some analysts warn that prices could hit US$100 per barrel if regional instability persists.

The adjustments highlight the ongoing impact of international market fluctuations and regional conflicts on Ghana’s domestic fuel pricing.