Consumers should brace for higher fuel costs in the first pricing window of March 2026, as petroleum prices are expected to increase marginally at the pumps.
According to the Chamber of Petroleum Consumers (COPEC), “Petroleum prices beginning the 1st window of March 2026, are expected to see some marginal increments across the pumps.”
COPEC projects that “Petrol is expected to go up marginally by 3.59%, Diesel by 1.52% whiles LPG could witness a decline of -1.57% across various pumps respectively.”
The projected increases are driven by movements in global crude prices and changes in international Free On Board (FOB) prices, despite a slight appreciation of the cedi.
COPEC noted that “Global Crude price has seen a marginal increase of about 1.25%, that is an increase from $70.90/barrel to $71.79/barrel.”
The cedi, however, “witnessed a marginal appreciation against the Dollar to close trading from an average interbank rate of $1:GHS11.0990 at the start of the current window to $1:GHS11.0723 (0.24%) as of the close of window.”
For petrol, COPEC explained that “With the international FOB price of petrol increasing from $652.64/MT to $685.27/MT (5.03%) and a currency appreciation of about 0.24%, the retail price of petrol works up to an increment of 3.59%.”
As a result, “the retail price of Petrol is expected to be selling between GHS11.8/L and GHS13/L, within a ±5% range of COPEC’s projection.”
Diesel is also expected to record a marginal rise.
“In the same manner, with the International FOB price of diesel increasing from $695.94/MT to $711.86MT (2.29%) and the cedi’s appreciation averages of 0.24%, the projected retail pump price for diesel in the next window shall work up to an increment of 1.52%.”
COPEC projects that “Diesel is thus expected to increase marginally with retail price selling between GHS12.73/L and GHS14.0/L within a ±5% range of COPEC’s projection.”
Liquefied Petroleum Gas (LPG), however, could offer slight relief to consumers.
“With the international FOB price of LPG decreasing from $508.77MT to $503.59/MT (-1.5%) and the cedi’s appreciation of about 0.24%, the projected retail price of LPG is expected to decline marginally by -1.57%.”
COPEC added that “within ±5% error, LPG is expected to be selling between GHS11.48/kg and GHS12.69/kg.”
Despite the projected increases, the Chamber urged restraint from Oil Marketing Companies.
“In conclusion, it is the expectation of COPEC that the various Oil Marketing Companies would maintain prices across the pumps in order not to overburden the consumer with these expected increments in the coming window.”
The projected adjustments, though described as marginal, signal continued sensitivity of local fuel prices to international market movements.Source: Joy Business
