Petrol prices are expected to fall while diesel prices could rise from today, August 17, in a mixed review of petroleum prices at the pumps.

Data from the Chamber of Oil Marketing Companies (COMAC) show that petrol could fall by up to 2.90%, bringing the indicative price to about GH¢15.82 per litre.

Diesel, however, is expected to rise by 1.39%, with a litre potentially selling at GH¢17.73.

The price of Liquefied Petroleum Gas (LPG) is also expected to fall marginally by 0.93%, with the price per kilogram projected at about GH¢16.21.

However, the Chief Executive of the Chamber of Petroleum Consumers (COPEC) has told JOYBUSINESS that he expects most Oil Marketing Companies (OMCs) to keep their prices unchanged at the pumps.

There are currently more than 200 OMCs operating in Ghana, giving individual companies some flexibility in setting prices within the regulatory framework.

The mixed price movement has been driven largely by developments on the international market.

According to COMAC, average crude oil prices rose by 2.02% to US$90.41 per barrel in mid-August, amid geopolitical risks and potential supply disruptions around the Strait of Hormuz.

Prices of refined petroleum products moved in different directions. Diesel recorded a 2.86% increase, while petrol and LPG prices declined by 5.46% and 2.54%, respectively.

COMAC said the mixed movement reflects uncertainty surrounding the US-Iran dispute and higher international crude oil prices.

The Chamber noted that the government-industry intervention would continue to moderate the impact of higher diesel prices at the pumps.

It also said recent appreciation of the cedi could lead to further reductions in petroleum prices in subsequent pricing windows if the trend is sustained.

The cedi depreciated by 1.20% to GH¢11.7995 per US dollar between July 27 and August 11, 2026, based on bank averages.

However, the currency has since strengthened, with the Bank of Ghana rate at GH¢10.9855 to the dollar on August 14.

NPA Price Floor

The National Petroleum Authority (NPA) has also reduced its price floor for the second pricing window of August, which began on August 16.

Data picked up by JOYBUSINESS show that the petrol price floor has been reduced from GH¢14.53 to GH¢13.92 per litre.

That represents a reduction of GH¢0.61, or about 4.1%.

The diesel price floor has also fallen from GH¢16.97 to GH¢15.19, a reduction of GH¢1.78 or 10.48%.

The LPG price floor has been reduced marginally from GH¢11.06 to GH¢10.98 per kilogramme.

The NPA has reminded OMCs and LPG Marketing Companies not to sell petroleum products below the approved price floors during the pricing window.

Despite the changes, current pricing trends suggest some OMCs may choose not to review their prices and could maintain existing pump prices.