Petrol Prices Set to Rise Today

Prices of petroleum products are expected to record mixed movements at the pump from June 1, 2026, with petrol and liquefied petroleum gas (LPG) projected to rise while diesel records a marginal decline, according to the latest outlook from the Chamber of Oil Marketing Companies (COMAC).
The projection, sighted by Joy Business and based on industry data released on May 29, indicates that petrol prices could increase by between 4.20% and 6.20%. This could push the price of a litre of petrol to about GH¢15.92 at the pumps.
LPG is also expected to move upward by as much as 2.24%, which could translate into a kilogramme selling at approximately GH¢17.30.
Diesel, however, is expected to ease slightly by between 1.65% and 2.00%, with projections pointing to a litre price of about GH¢17.21.
COMAC explained that the mixed pricing outlook is influenced by a combination of lower global crude movements and continued government–industry intervention measures aimed at cushioning consumers from full pass-through of international price shocks.
The Chamber noted that the Joint Government–Industry intervention, extended from May 16, 2026, has significantly shaped the pricing structure for the current window. Under the arrangement, support on petrol has been fully removed, while diesel continues to receive a reduced subsidy of GH¢1.07 per litre. This, according to industry players, is helping to soften the impact of global price pressures on consumers.
On the international market, crude oil prices have shown slight easing, with averages reportedly declining from about $112.07 per barrel to $110.59. Refined petroleum products have also recorded mixed movements, with LPG registering the steepest drop of 5.53%, diesel declining by 5.35%, while petrol recorded an increase of about 3.0%.
At the same time, exchange rate movements are also adding pressure to the pricing outlook. The Ghana cedi has seen mild depreciation against major trading currencies, with industry data indicating a shift from GH¢11.30 to GH¢11.59 per dollar equivalent, driven by strong dollar demand, dividend repatriation, disruptions in gold export inflows, and cautious intervention by the Bank of Ghana.
The National Petroleum Authority (NPA), in its price floor announcement for the June 1 to June 16 pricing window, set a minimum retail price of GH¢15.20 per litre for petrol, up from the previous window. Diesel has also been pegged at GH¢15.49 per litre. This means Oil Marketing Companies are not permitted to sell below the stated thresholds within the period.
The price adjustments are expected to filter through fuel stations nationwide from the start of the new pricing window, potentially influencing transport fares and broader inflation trends in the coming weeks.