Fuel prices are expected to increase significantly at the pumps from Saturday, 1 August 2026, following a rise in global crude oil prices and a depreciation of the Ghana cedi against the US dollar.

The Chamber of Petroleum Consumers (COPEC) has projected that petrol, diesel, and liquefied petroleum gas (LPG) prices will all record increases in the first pricing window of August.

According to COPEC’s analysis, global crude oil prices increased from $71.90 per barrel to $88.62 per barrel, while the cedi weakened marginally against the US dollar, moving from an average interbank rate of GHC11.4970 to GHC11.6593 during the period.

For petrol, COPEC said the Free On Board (FOB) price increased from $970.63 per metric tonne to $1,092 per metric tonne, representing a 12.58% rise.

With the additional impact of the cedi’s depreciation, COPEC estimates that petrol could sell at an average retail price of GH¢15.95 per litre, representing a 9.36% increase from the current mean price of GHC14.59 per litre.

The chamber expects petrol prices to range between GHC15.16 and GHC16.75 per litre.

Diesel is also projected to record a sharp increase, following a rise in its FOB price from $974.40 per metric tonne to $1,216.45 per metric tonne, representing a 24.84% jump.

COPEC estimates diesel could sell at GHC19.45 per litre, representing a 10.78% increase from the current average price of GHC17.76 per litre.

The projected range for diesel prices is between GHC18.48 and GHC20.92 per litre.

For LPG, COPEC said the international FOB price increased from $545.65 per metric tonne to $612.45 per metric tonne, a 12.24% rise.

The chamber expects LPG prices to increase to about GHC13.80 per kilogramme, with a possible price range between GHC13.11 and GHC14.49 per kilogramme.

COPEC has called on the government to urgently introduce measures to cushion consumers from the expected price increases.