Petrol and Diesel Prices to Fall Massively as LPG Faces 18.5% Increase from Friday October 16, 2026

According to a report by JoyNews on Wednesday October 14, 2026, Petrol and diesel prices are expected to fall slightly at fuel pumps across Ghana from Friday, October 16, 2026, while liquefied petroleum gas (LPG) prices could increase by 18.5%.

The projections are based on the latest pricing outlook released by the Chamber of Oil Marketing Companies (COMAC) for the next pricing window.

The report indicates that petrol prices are expected to decline by almost 2% to GH¢17.67 per litre. Diesel prices could also fall by 3.32% to GH¢19.30 per litre.

However, LPG prices are projected to rise by 18.5% to GH¢20.60 per kilogram, potentially increasing the cost of cooking gas for households and businesses.

Factors Behind the Expected Price Changes

The Chamber attributed the projected changes to developments on the international oil market and recent government interventions.

According to the report, average crude oil prices increased by 2.03% to US$126.73 per barrel during the period under review. The increase was linked to renewed concerns about global oil supplies amid geopolitical tensions.

Prices of refined petroleum products recorded mixed movements. LPG prices rose by 7.77%, while diesel and petrol prices fell by 6.68% and 3.93%, respectively.

The Ghana cedi also depreciated by 1.61% against the US dollar, reaching an average rate of GH¢11.8222 to one dollar. The Chamber noted that the cedi had lost more than 11% of its value against the dollar since the beginning of the year.

NPA Reduces Petrol and Diesel Price Floors

Meanwhile, the National Petroleum Authority (NPA) has reduced the minimum prices for petrol and diesel for the October 16 pricing window.

The petrol price floor has been lowered from GH¢16.45 to GH¢16.09 per litre, while diesel has dropped from GH¢17.97 to GH¢17.09 per litre.

In contrast, the minimum LPG price has increased from GH¢11.10 to GH¢13.87 per kilogram.

The NPA explained that these price floors exclude certain industry charges and operating margins, which individual companies determine under the prescribed petroleum pricing formula.

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