Consumers who rely on liquefied petroleum gas (LPG) could face higher costs in the second half of October, with the Chamber of Oil Marketing Companies (COMAC) projecting an increase of up to 18.50% in LPG prices.
The latest pricing outlook, covering October 16 to 31, forecasts a contrasting trend for the three major petroleum products, with LPG prices expected to rise while petrol and diesel prices are projected to decline.
According to the report, LPG prices could increase by between 16.98% and 18.50%, while petrol prices are expected to fall by 1.20% to 1.67%. Diesel prices are projected to decline by between 2.60% and 3.32%.
The projections could offer some relief to motorists and transport operators but increase costs for households and businesses that depend on LPG for cooking and other activities.
COMAC’s outlook points to international market developments as a major influence on the expected changes, particularly the rise in crude oil prices amid concerns over global supplies.
“Global oil prices have risen by more than 70% this year, mainly because of the US–Iran conflict and supply disruptions,” the report stated.
It further noted that attacks on tankers in the Strait of Hormuz had forced some vessels to turn away from the Persian Gulf, while Ukrainian strikes on Russian refineries had reduced fuel supplies.
The report also highlighted differences in the performance of refined petroleum products, with LPG recording an increase while petrol and diesel prices declined.
“LPG posted the highest increase at 7.77%, while diesel recorded the steepest decline at 6.68%, followed by petrol at 3.93%,” COMAC stated.
The local currency’s performance against the US dollar is another factor affecting the petroleum market, as changes in the exchange rate can influence the cost of importing fuel into Ghana.
COMAC’s report indicates that the cedi weakened during the period under review, with the exchange rate rising to approximately GH¢11.82 per dollar.
The outlook also discusses the government’s continued intervention in diesel pricing, following revisions to selected statutory margins and the Energy Sector Shortfall and Debt Repayment Levy effective October 1, 2026.
The measure is intended to cushion consumers against rising international petroleum prices while maintaining the existing government-industry burden-sharing arrangement.
“The total value of the intervention remains unchanged, maintaining the Government–industry burden-sharing arrangement introduced on 16 April 2026 to moderate increases in diesel prices at the pumps,” the report stated.
The projected changes are expected to shape fuel pricing decisions during the second half of October, although actual prices may vary among oil marketing companies.
