The price of petroleum products is set to witness some mixed reviews at the pumps from August 16, 2026.

The data from the Chamber of Oil Marketing Companies (COMAC) showed that petrol is expected to go down by up to 2.90% and may see a litre sold at GH¢15.82 per litre.

The diesel, on the other hand, will go up by 1.39%, with a litre likely to be sold at GH¢17.73

A kilogramme of Liquefied Petrol Gas (LPG)  will be reduced marginally by GH¢0.93 and may sold at GH¢16.21.

Reasons

According to the COMAC, “We are seeing these mixed price reviews to the fact that average crude oil prices rose 2.02% to US$90.41/bbl in mid-August 2026, supported by geopolitical risks and potential supply disruptions around the Strait of Hormuz”.

The performance of refined petroleum products was mixed, with diesel recording the strongest growth at 2.86%, while petrol and LPG declined by 5.46% and 2.54%, respectively.

The mixed movement reflects the uncertainty over the US/Iran dispute and higher international crude.

However, the government-industry intervention will continue to moderate the full impact of higher diesel prices at the pump, while the recent cedi appreciation could drive prices further down within the coming windows if sustained.

The Ghana cedi, on the other hand, depreciated 1.20% to GH¢11.7995/US$ (Bank Averages) between 27^th July and 11^th August 2026. However, it has strengthened, with the BoG rate currently selling at GH¢10.9855 on 14 August 2026. Further appreciation is expected if current supply conditions persist.

On the recent subsidy measure by the government, the Chamber of Oil Marketing Companies said the mixed movement reflects the uncertainty over the US-Iran dispute and higher international crude.

However, the government-industry intervention will continue to moderate the full impact of higher diesel prices at the pump, while the recent cedi appreciation could drive prices further down within the coming windows if sustained.

National Petroleum Authority’s Price Floor

The National Petroleum Authority has reduced the Price Floor for the second pricing window of this month, starting from August 16, 2026.

Based on data picked up by JOY BUSINESS, the price floor for petrol has been reduced from GH¢14.53 to GH¢13.92 per litre.

This represents more than 4.1% cut in the benchmark for setting prices of petroleum products, as agreed with industry players. It also means the price of petrol has been reduced by GH¢ 0.61.

Diesel has also been reduced from GH¢16.97 to GH¢15.19, representing a reduction of GH¢ 1.78, or about 10.48%.

This could be the biggest drop in recent times for this particular product.

LPG has been reduced from GH¢11.06 to GH¢10.98.

NPA reminded all industry players, including Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs), not to sell petroleum products below the approved price floor during the pricing window.

However, based on the current pricing model of some of the OMCs, it is likely that some may end up not reviewing their prices at all or they might keep them unchanged.