The Chamber of Petroleum Consumers (COPEC) is projecting an increase in fuel prices at the pumps from September 16, 2026, following a surge in global crude oil prices.
Executive Secretary of COPEC, Duncan Amoah, said the recent rise in Brent crude oil prices, which has crossed the $100 per barrel mark, is likely to translate into higher prices for petroleum products on the Ghanaian market.
He said the situation could be compounded by already elevated market and importation premiums being paid by petroleum marketers.
“It’s one of the indicators that likely prices for the next window will be a little up or higher for the Ghanaian market,” Mr Amoah said in a Citi Business News interview.
According to him, the impact of rising crude oil prices is not immediate because changes in crude prices generally take some time to reflect in the prices of refined petroleum products after going through the refining and importation chain.
“On this occasion, what is likely going to happen is that it will not take effect now, but most likely you could have some adjustment in prices by the 16th, which is the second window in September,” he explained.
Mr Amoah said the expected increase would add to the financial pressure on consumers, particularly as market and importation premiums remain high.
“What this means is that you are probably most likely going to pay a little more for petrol in Ghana, not forgetting the fact that already market premiums and then, of course, importation premiums are high,” he added.
He also welcomed the decision by transport operators to maintain existing fares despite developments in the petroleum market.
However, Mr Amoah questioned how long transport operators could sustain their current fares if fuel prices increased further.
“Clearly for me, that is good news that they are deciding not to increase first. Except that the question will be how long can they sustain their operations if prices of petroleum products were to go up again,” he remarked.