Consumers are expected to experience mixed movements in fuel prices in the new pricing window beginning today, with petrol and Liquefied Petroleum Gas (LPG) projected to increase while diesel is expected to record a marginal decline.
The latest outlook from the Chamber of Oil Marketing Companies (COMAC) indicates that petrol prices could rise by between 4.2% and 6.2%, potentially pushing the retail price of a litre to about GH¢15.92 at the pumps.
LPG is also projected to increase by up to 2.24%, with a kilogram expected to sell at approximately GH¢17.30.
In contrast, diesel prices are expected to fall by between 1.65% and 2%, which could reduce the cost of a litre to around GH¢17.21, offering some relief to consumers who rely heavily on the product for transport and industrial use.
The Chamber attributed the mixed outlook to recent developments on the international petroleum market, alongside the continued impact of government-industry interventions aimed at moderating fuel price volatility.
According to the group, the Joint Government-Industry intervention introduced on May 16, 2026, remains a key factor shaping domestic pricing. Under the revised arrangement, support on petrol has been fully withdrawn, while diesel continues to receive a reduced subsidy of GH¢1.07 per litre.
The National Petroleum Authority has also announced new price floors for the June 1 to June 16 pricing window, setting minimum pump prices at GH¢15.20 per litre for petrol and GH¢15.49 per litre for diesel.
The regulator said the adjustment reflects ongoing changes in the downstream petroleum market and aims to ensure pricing stability within the sector.
On the international market, crude oil prices recorded a slight decline in the latter part of May, easing from an average of $112.07 per barrel to $110.59 per barrel. Refined petroleum products also showed mixed performance, with LPG posting a sharp drop of 5.53% and diesel falling by 5.35%, while petrol prices rose by about 3%.
Currency movements also contributed to the outlook, as the Ghana cedi weakened slightly against major trading currencies, moving from GH¢11.30 to GH¢11.59.
Analysts attribute the depreciation to increased dollar demand, dividend repatriation, disruptions in gold export flows, and cautious market intervention by the Bank of Ghana.
The developments suggest continued adjustments in fuel prices over the coming weeks, as global market dynamics and domestic policy measures jointly influence pump pricing.
A detailed outlook released by the Chamber and cited by Joy Business indicates that consumers should brace for gradual price alignment with international trends, even as policy interventions continue to cushion sharp shocks in the short term.
CREDIT: MAVIS FANTEVI
