Prices of petroleum products in Ghana are expected to increase from May 16, 2026, even if government extends its current programme aimed at cushioning consumers against rising crude oil prices.
This is according to the Chief Executive Officer of the Chamber of Oil Marketing Companies, Riverson Oppong, who outlined two possible pricing scenarios depending on whether the intervention is extended beyond its expiration date.
Under the first scenario, where government extends the policy, petrol prices are projected to rise by between 2.5% and 3% per litre, potentially pushing prices to around GH¢14.50. Diesel is also expected to increase by about 1.8% per litre, with prices reaching approximately GH¢16.50. However, if the intervention is not extended, petrol could climb to GH¢15.80 per litre, while diesel may rise to about GH¢18.05 per litre.
Dr. Oppong also noted that liquefied petroleum gas (LPG) pricing will depend largely on market stock levels. He further cautioned against linking imports directly to lower pump prices, stressing the need to distinguish between product availability and pricing. He added that rising global crude oil prices, driven by geopolitical tensions, could further increase domestic inflationary pressure, even though international financial institutions expect Ghana to maintain single-digit inflation by year-end.