Petrol Prices Expected to Rise in the Second Window of February as Cedi Continues to Fall

• Petroleum prices in Ghana are projected to increase by about 6% later in February, impacting petrol, diesel, and LPG
• Petrol is projected to increase by 6%, while diesel and LPG could rise by approximately 6% across various fuel filling stations
• The international Free On Board price of petrol increased from $626.36 per metric tonne to $652.64 per metric tonne

Petroleum prices are expected to increase across Ghana in the second pricing window of February 2026, according to projections by the Chamber of Petroleum Consumers (COPEC).

In a statement dated February 13, 2026, COPEC indicated that petrol, diesel and liquefied petroleum gas (LPG) are all likely to record upward adjustments at the pumps.

3News reported that petrol is projected to increase by 6%, while diesel and LPG could rise by approximately 6% across various filling stations nationwide after a few windows of reductions.

The anticipated hikes are attributed to movements in global crude oil prices and the performance of the Ghana cedi against the US dollar.

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Global crude oil prices rose by about 4.8%, moving from $67.4 per barrel to $70.64 per barrel during the pricing window. At the same time, the cedi experienced a marginal depreciation of approximately 1.04 per cent, shifting from an average interbank rate of GH¢10.98415 to GH¢11.0990 to the dollar.

According to COPEC, the international Free On Board (FOB) price of petrol increased from $626.36 per metric tonne to $652.64 per metric tonne, representing a 4.1% rise. Combined with the cedi’s depreciation, the retail price of petrol is projected to increase by about 6.8%.

Petrol is therefore expected to sell between GH¢11.56 per litre and GH¢12.77 per litre.

Meanwhile, COPEC expressed the expectation that Oil Marketing Companies will absorb part of the upward adjustments by reducing portions of their margins to ease the burden on consumers.

Why did fuel prices previously reduce?

The January reduction in fuel prices was driven by a decline in prices of finished petroleum products and the sustained appreciation of the Ghana cedi against the US dollar.

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The Chamber of Oil Marketing Companies said the declines were due to global oversupply.

Petrol prices dropped betwee 1.26% and 2.30% in January, diesel declined by up to 2.10%, and Liquefied Petroleum Gas was projected to drop by as much as 5.09%.

Databank Research has suggested that foreign exchange pressures on the cedi had been stemmed by the limited by the rollout of the US$1 billion allocation for January under the Bank of Ghana’s FX Intermediation Programme.

Argument over fuel price floor

YEN.com.gh reported that the Chief Executive Officer of StarOil Ghana, Kwame Tieku, is calling for the scrapping of the price floor to allow dynamic pricing.

This sparked a back-and-forth with the GOIL MD, Edward Bawa, who suggested hypocrisy on the part of Tieku, claiming that StarOil could be selling at the price floor if its CEO was being sincere.

Source: YEN.com.gh