Fuel prices in Ghana are set for mixed adjustments from April 16, 2026, with diesel expected to decline marginally while petrol and LPG prices edge upward, according to new projections by the Chamber of Oil Marketing Companies.
Data released on April 15 indicates that diesel prices could fall by nearly 4 percent to around GH¢18.50 per litre. In contrast, petrol is projected to increase by almost 2 percent, potentially selling at GH¢15.24 per litre at the pumps.
Liquefied Petroleum Gas (LPG) is also expected to rise slightly by 0.75 percent, with prices likely to reach GH¢16.50 per kilogram.
Global Oil Trends Drive Price Movements
The Chamber attributed the mixed outlook to rising international petroleum prices, which have continued to climb for seven consecutive pricing windows since January 2026.
According to its Pricing Outlook Report, global crude oil prices increased significantly from $109.66 per barrel to $129.80 per barrel, representing an 18.37 percent surge. LPG recorded the highest increase at 9.38 percent, followed by diesel at 6.98 percent and petrol at 2.77 percent.
The report highlighted that the situation remains closely tied to global supply conditions, particularly developments around the Strait of Hormuz, where disruptions have continued to impact energy markets.
Exchange rate movements have also contributed to pricing pressures. The Ghana cedi depreciated slightly from GH¢11.0503 to GH¢11.1324 per US dollar, representing a 0.74 percent decline.
This depreciation has increased the cost of importing refined petroleum products, further influencing domestic fuel prices.
Government Intervention Limits Price Surge
Despite these upward pressures, government intervention has played a key role in moderating fuel price increases. Authorities have introduced temporary measures to cushion consumers against rising costs.
“We are seeing these prices because of the government’s intervention,” industry players told SweetFM Online, noting that prices could have risen more sharply without the policy.
Under the intervention, the government will absorb GH¢2 per litre on diesel and GH¢0.36 per litre on petrol. The policy was announced by Felix Kwakye Ofosu and takes effect from April 16.
“This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses,” the statement noted.
Outlook for Consumers and Businesses
The measures, approved by Cabinet, will remain in place for one month as authorities monitor global market developments.
While diesel users are expected to benefit from immediate relief, the increase in petrol and LPG prices signals continued pressure on transportation and household energy costs.
The latest pricing outlook underscores the delicate balance between global market forces and domestic policy interventions, as Ghana navigates ongoing volatility in international energy markets.
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