Fuel prices in Ghana are expected to rise significantly starting March 16. Petrol, diesel, and liquefied petroleum gas (LPG) prices are projected to increase by 16.93%, 17.21%, and 11.26%, respectively, according to the Chamber of Oil Marketing Companies (COMAC). The chamber attributes these anticipated price increases to a surge in global crude oil prices, which have been driven by escalating geopolitical tensions in the Middle East and disruptions in a crucial maritime oil transit route, the Strait of Hormuz.
These factors have tightened global supply and contributed to higher international petroleum prices. In its pricing outlook for March 16, 2026, COMAC stated that developments in the global oil market are exerting upward pressure on fuel prices in importing countries, including Ghana.
Meanwhile, the National Petroleum Authority has also announced an increase in the price floors for petroleum products for the second pricing window of March 2026, which takes effect on March 16, signalling potential increases in pump prices across the country.
The revised minimum ex-pump prices show a notable rise across petrol, diesel and LPG compared with the first pricing window of the month. Under the new price floors, petrol will sell at a minimum of GH¢11.57 per litre, up from GH¢10.46 per litre recorded between March 1 and 15.
The minimum price for diesel has sharply increased to GH¢14.35 per litre, up from GH¢11.42 per litre in the previous pricing window. For LPG, the new minimum price has risen to GH¢10.67 per kilogram, compared to GH¢9.38 per kilogram earlier in the month. These adjustments represent increases of GH¢1.11 for petrol, GH¢2.93 for diesel, and GH¢1.29 for LPG within the same month. Industry analysts indicate that these new price floors are likely to lead to higher pump prices nationwide, as oil marketing companies adjust their retail prices in line with global market trends.
Source: William Narh