Ghana Fuel Prices Set to Rise From May 16 Despite Government Relief
- Prices of petroleum products in Ghana may rise by between 2.5% to 3% starting the next pricing window in May
- Without government intervention, petrol could reach GH¢15.80 per litre, according to market players
- Crude oil prices continue to rise and are trading at about $107 per barrel amid the tensions in the Middle East
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Prices of petroleum products are expected to rise from May 16, 2026, even if the government relief against rising crude oil prices continues.
The Chief Executive Officer of the Chamber of Oil Marketing Companies, Dr Riverson Oppong, told Joy News that petrol prices are expected to increase by about 2.5% to 3% per litre if the government relief continues.
Source: Getty Images
This would push a litre of petrol to around GH¢14.50. Diesel is also projected to rise by about 1.8% per litre, which could take the price to about GH¢16.50.
If the government does not continue the intervention, petrol prices could climb to about GH¢15.80 per litre, while diesel could be sold at around GH¢18.05 per litre.
On liquefied petroleum gas (LPG), Dr Oppong said pricing will depend largely on market stock levels.
He also cautioned against linking product imports directly to price reductions, in reference to discussions about importing petroleum products from Nigeria for local refining.
Meanwhile, there are indications of further pressure on global fuel prices following reports that the US could soon resume strikes on Iran. Crude oil prices have already risen, trading at about $107 per barrel.
The development is likely to feed into domestic inflation pressures in the coming months.
Source: YEN.com.gh
