Fuel Prices: Diesel Set To Rise By 4.1% As Petrol Becomes Cheaper In November – COPEC

According to a report by Citi FM on Friday October 30, 2026, the Chamber of Petroleum Consumers (COPEC) has projected an increase in diesel prices alongside a reduction in petrol prices during the first pricing window of November 2026, offering mixed news to motorists and other petroleum consumers across Ghana.

According to the latest fuel price outlook released by COPEC, diesel prices are expected to increase by 4.07 per cent, while petrol prices are projected to decline by 1.71 per cent from Sunday, November 1, 2026.

Liquefied Petroleum Gas (LPG), popularly known as cooking gas, is also expected to remain relatively stable at the pumps despite a significant increase in its international market price.

Under the projected adjustments, the average price of petrol is expected to drop from the current GH¢17.02 per litre to approximately GH¢16.72 per litre.

Diesel consumers, however, may have to pay more, as the average price is projected to increase from GH¢18.40 to GH¢19.15 per litre.

COPEC explained that the anticipated changes are largely influenced by fluctuations in international petroleum prices and movements in the Ghana cedi against the United States dollar.

The chamber attributed the expected reduction in petrol prices to a decline in its international Free-on-Board (FOB) price, which dropped by 4.45 per cent from US$1,255.05 to US$1,199.16 per metric tonne.

The appreciation of the Ghana cedi against the dollar has also contributed to the projected reduction.

COPEC indicated that the local currency strengthened by approximately 0.68 per cent during the period under review, with the average interbank exchange rate improving from GH¢11.8222 to GH¢11.7411 per dollar.

These developments are expected to translate into a lower average pump price for petrol during the November pricing window.

Depending on the pricing decisions and operational margins of individual Oil Marketing Companies (OMCs), petrol could be sold at prices ranging between GH¢15.89 and GH¢17.57 per litre.

The outlook for diesel, however, presents a different picture, with international market developments expected to push prices higher despite the cedi’s appreciation.

COPEC reported that the international FOB price of diesel increased by 2.71 per cent, rising from US$1,414.78 to US$1,453.07 per metric tonne.

The increase in the international benchmark price is expected to outweigh the positive effect of the stronger cedi, resulting in a projected 4.07 per cent increase in the average retail price of diesel.

The chamber estimates that diesel could sell between GH¢18.19 and GH¢20.11 per litre during the first pricing window of November, depending on the margins adopted by individual petroleum retailers.

Meanwhile, consumers who depend on LPG for cooking may experience relatively little change in prices at the pumps.

Although the international FOB price of LPG recorded a considerable increase from US$839.50 to US$1,003.18 per metric tonne, COPEC expects the commodity’s retail price to remain broadly stable during the period.

The projected price range for LPG is between GH¢17.54 and GH¢19.38 per kilogramme.

In its assessment of the expected market developments, COPEC commended the government for what it described as ongoing efforts to protect consumers from the effects of rising international petroleum prices.

The chamber also appealed to Oil Marketing Companies to consider reducing some of their operational and commercial margins to minimise the impact of the anticipated increases, particularly on diesel consumers.

COPEC believes that moderation of these margins could help prevent further financial pressure on households, transport operators and businesses that rely heavily on petroleum products for their daily activities.

The projected adjustments are expected to attract attention from motorists, commercial drivers and businesses as the country enters November, with diesel users likely to bear additional costs while petrol consumers could enjoy some relief.

However, COPEC’s figures remain projections, and the actual prices charged at filling stations will depend on the final pricing decisions of individual Oil Marketing Companies.

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