STORY BY IRENE KABUKIE KWAO –
The Chamber of Petroleum Consumers (COPEC) has projected an increase in diesel prices and a reduction in petrol prices for the first pricing window of November 2026.
According to the chamber’s latest pricing outlook, diesel prices are expected to rise by 4.07%, while petrol prices could decline by 1.71% from Sunday, November 1, 2026. Liquefied Petroleum Gas (LPG) prices, meanwhile, are expected to remain broadly stable at the pumps.
COPEC estimates that the average price of petrol will drop from the current GH¢17.02 per litre to GH¢16.72 per litre, representing a reduction of about 30 pesewas.
Diesel, however, is projected to increase from GH¢18.40 to GH¢19.15 per litre, an estimated rise of 75 pesewas.
The chamber attributes the expected price adjustments to fluctuations in international petroleum prices and movements in the cedi against the US dollar.
Petrol prices expected to decline
COPEC’s outlook indicates that the international free-on-board (FOB) price of petrol declined by 4.45%, falling from $1,255.05 to $1,199.16 per metric tonne.
The development was supported by an approximately 0.68% appreciation of the cedi against the dollar, with the average interbank exchange rate improving from GH¢11.8222 to GH¢11.7411.
These factors are expected to translate into lower pump prices, with petrol selling between GH¢15.89 and GH¢17.57 per litre, depending on the pricing decisions of individual Oil Marketing Companies (OMCs).
Diesel prices projected to increase
Unlike petrol, diesel prices are expected to record an upward adjustment during the November pricing window.
COPEC says the international FOB price of diesel increased by 2.71%, moving from $1,414.78 to $1,453.07 per metric tonne.
Despite the appreciation of the cedi, the chamber projects that the average retail price of diesel will rise by 4.07% to GH¢19.15 per litre.
Prices could range between GH¢18.19 and GH¢20.11 per litre, depending on the margins applied by individual oil marketers.
LPG prices to remain broadly stable
Although the international FOB price of LPG increased significantly from $839.50 to $1,003.18 per metric tonne, COPEC expects prices at the pumps to remain largely unchanged.
The chamber estimates that LPG could sell within a range of GH¢17.54 to GH¢19.38 per kilogramme during the first pricing window of November.
COPEC appeals to oil marketers
Meanwhile, COPEC has commended the government for what it describes as continued efforts to cushion consumers against rising petroleum prices on the international market.
The chamber has also appealed to Oil Marketing Companies to consider reducing some of their margins to minimise the impact of the expected adjustments on consumers.
It says moderating these margins would help prevent additional financial pressure on households and businesses as global petroleum market conditions continue to influence domestic fuel prices.
