Fuel Prices Set to Rise Again in March Pricing Window
By Praisebell Rosemond Larbi
Consumers across Ghana are expected to face another round of fuel price increases in the first pricing window of March 2026, as global market pressures continue to influence local pump rates despite slight currency gains.
The Chamber of Petroleum Consumers (COPEC) has projected marginal increases across key petroleum products, with petrol expected to rise by 3.59 percent and diesel by 1.52 percent. Liquefied Petroleum Gas (LPG), however, is anticipated to offer slight relief, with prices projected to decline by 1.57 percent.
According to COPEC, the expected adjustments are largely driven by movements in global crude oil prices and rising international Free On Board (FOB) prices. “Petroleum prices beginning the first window of March 2026 are expected to see some marginal increments across the pumps,” the Chamber noted.
Global crude oil prices recorded a modest increase of about 1.25 percent, moving from $70.90 per barrel to $71.79 per barrel over the review period. This uptick, combined with rising refined product prices on the international market, continues to exert upward pressure on domestic fuel pricing.
For petrol, the international FOB price rose significantly by 5.03 percent, from $652.64 per metric tonne to $685.27 per metric tonne. This increase, despite a 0.24 percent appreciation of the Ghanaian cedi against the US dollar, translates into a projected retail price range of between GH¢11.8 and GH¢13.0 per litre.
Diesel prices are also expected to climb, albeit at a slower pace. With FOB prices increasing by 2.29 percent, from $695.94 to $711.86 per metric tonne, the projected pump price for diesel is expected to range between GH¢12.73 and GH¢14.0 per litre.
In contrast, LPG prices may decline slightly, supported by a 1.5 percent drop in international prices. COPEC estimates that LPG will sell between GH¢11.48 and GH¢12.69 per kilogram, offering modest relief to households and small businesses reliant on the product.
Despite the projected increases, COPEC has urged Oil Marketing Companies (OMCs) to exercise restraint in adjusting pump prices, cautioning against further burdening consumers already grappling with cost-of-living pressures.
While the anticipated changes are described as marginal, they underscore the continued vulnerability of Ghana’s fuel pricing structure to global market fluctuations, reinforcing the need for strategic policy interventions to stabilize energy costs over the long term.
