Petrol and diesel prices are expected to decline marginally at the pumps from Friday, October 16, 2026, while liquefied petroleum gas (LPG) could rise by 18.5 per cent per kilogram, according to the Chamber of Oil Marketing Companies (COMAC).
COMAC’s pricing outlook projects petrol at GH¢17.67 per litre, representing a reduction of almost 2 per cent, and diesel at GH¢19.30 per litre, down 3.32 per cent. LPG is expected to increase to GH¢20.60 per kilogram.
The projected changes come amid rising international crude oil prices and a weakening cedi, although refined petroleum products recorded mixed price movements during the period under review.
Average crude oil prices increased by 2.03 per cent to US$126.73 per barrel for the October 16 pricing window, according to COMAC. The Chamber attributed the rise to renewed supply concerns linked to geopolitical tensions, including the war involving Iran.
Prices of refined petroleum products moved in different directions, with LPG increasing by 7.77 per cent, while diesel and petrol declined by 6.68 per cent and 3.93 per cent, respectively.
The cedi also depreciated by 1.61 per cent to GH¢11.8222 to the US dollar, based on average bank rates between September 26 and October 11, 2026. COMAC said seasonal import demand and higher energy costs continued to weigh on the currency, which had lost more than 11 per cent against the dollar so far this year.
Meanwhile, the National Petroleum Authority (NPA) has adjusted the minimum price floors for petroleum products for the October 16 pricing window.
The minimum petrol price has been reduced from GH¢16.45 to GH¢16.09 per litre, while the diesel floor has fallen from GH¢17.97 to GH¢17.09 per litre.
The minimum LPG price, however, has increased from GH¢11.10 to GH¢13.87 per kilogram.
The NPA explained that the price floors exclude premiums charged by International Oil Trading Companies, operating margins of Bulk Import, Distribution and Export Companies, and the margins of Oil Marketing Companies and LPG Marketing Companies.
These charges are determined independently by the respective companies under the prescribed Petroleum Products Pricing Formula.