Petrol, LPG Prices to Rise Slightly from August 16; Diesel to Drop
Petrol and liquefied petroleum gas (LPG) prices are expected to edge higher from August 16, while diesel will see a slight decline, according to projections from the Chamber of Oil Marketing Companies (COMAC).
Pump prices for petrol are forecast to rise between 0.39 and 2.71 per cent per litre, with LPG increasing by as much as 2.34 per cent per kilogram. Diesel is projected to fall by 0.72 per cent per litre.
COMAC attributed the mixed outlook to a 0.8 per cent depreciation of the cedi against the US dollar, from GHC 10.68 to GHC 10.77, alongside divergent trends in global product prices.
International diesel prices fell sharply by 5.22 per cent, while petrol and LPG prices rose by 1.89 per cent and 2.87 per cent respectively, reflecting product-specific supply and demand dynamics.
Industry players also pointed to the government’s recently introduced GHC 1 levy on petroleum products as adding upward pressure on fuel prices.
While the measure forms part of broader revenue mobilisation efforts, its impact has come amid already strained household budgets, with inflation still above the central bank’s target range.
Fuel prices feed directly into food and consumer price inflation, and any sustained upward movement could complicate the Bank of Ghana’s efforts to anchor inflation expectations and maintain policy credibility.
