The Chamber of Petroleum Consumers (COPEC) says marginal increases in global crude prices have outpaced the slight appreciation of the cedi, driving expected fuel price hikes for the March 2026 pricing window.

In a statement issued Wednesday, COPEC projected that “Petroleum prices beginning the 1st window of March, 2026 are expected to see some marginal increments across the pumps.”

According to the chamber, “Petrol is expected to go up marginally by 3.59%, Diesel by 1.52% whiles LPG could witness a decline of -1.57% across various pumps respectively.”

Explaining the outlook, COPEC said global crude prices edged up by about 1.25%, rising from $70.90 per barrel to $71.79 per barrel. Over the same period, the cedi appreciated only slightly against the dollar.

“The Cedi, however, witnessed a marginal appreciation against the Dollar to close trading from an average interbank rate of $1:GHS11.0990 at the start of the current window to $1:GHS11.0723 (0.24%) as of the close of the window,” the statement noted.

For petrol, COPEC said the international Free On Board (FOB) price jumped significantly.

“With the international FOB price of petrol increasing from $652.64/MT to $685.27/MT (5.03%) and a currency appreciation of about 0.24%, the retail price of petrol works up to an increment of 3.59%.”

It projected that “the retail price of Petrol is expected to be selling between GHS11.8/L and GHS13/L, within a ±5% range of COPEC’s projection.”

Diesel is also expected to record a marginal rise.

“With the International FOB price of diesel increasing from $695.94/MT to $711.86MT (2.29%) and cedi’s appreciation averages of 0.24%, the projected retail pump price for diesel in the next window shall work up to an increment of 1.52%.”

COPEC said diesel prices are likely to range “between GHS12.73/L and GHS14.0/L within a ±5% range of COPEC’s projection.”

LPG, however, could offer some relief to consumers.

“With the international FOB price of LPG decreasing from $508.77MT to $503.59/MT (-1.5%) and the cedi’s appreciation of about 0.24%, the projected retail price of LPG is expected to decline marginally by -1.57%.”

Within the allowable margin of error, LPG is projected to sell “between GHS11.48/kg and GHS12.69/kg.”

Despite the expected adjustments, COPEC urged restraint at the pumps.

“In conclusion, it is the expectation of COPEC that the various Oil Marketing Companies would maintain prices across the pumps in order not to overburden the consumer with these expected increments in the coming window,” the statement signed by Executive Secretary Duncan Amoah said.

The projections suggest that while currency stability provides some cushion, global market pressures continue to dictate pump pricing trends.