Ghanaian motorists and consumers are bracing for another painful fuel price shock, with the Chamber of Petroleum Consumers (COPEC) projecting significant increases in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG) from Wednesday, September 16, 2026.
The latest projection has heightened concerns that the already difficult economic conditions confronting millions of Ghanaians could deteriorate further, with higher fuel prices expected to trigger another wave of increases in transportation, food prices and other essential goods and services.
COPEC projects that petrol will rise by 4.24 per cent to an average of GH¢16.26 per litre, while diesel is expected to record a much sharper 10.23 per cent increase to GH¢19.07 per litre. LPG is also projected to rise to approximately GH¢15.32 per kilogramme.
COPEC’s projection follows a sharp increase in international crude oil prices, which reportedly climbed from US$89.30 to US$103.07 per barrel during the pricing period under review.
The development comes despite a marginal appreciation of the Ghana cedi against the US dollar. COPEC said the cedi moved from an average interbank rate of GH¢11.5166 to the dollar to GH¢11.4830, representing an improvement of about 0.29 per cent.
According to COPEC’s analysis, the international Free on Board (FOB) price of petrol jumped from US$1,136.50 to US$1,251.07 per metric tonne, representing a 10.08 per cent increase.
After taking the marginal appreciation of the cedi into account, COPEC projects an average pump price of GH¢16.26 per litre.
However, the consumer watchdog estimates a possible price range of GH¢15.44 to GH¢17.08 per litre, depending on market conditions and pricing decisions by Oil Marketing Companies.
Diesel is expected to suffer an even bigger increase.
COPEC said the international FOB price of diesel increased from US$1,250.50 to US$1,404.73 per metric tonne, representing a 12.33 per cent jump.
The resulting projected pump price of GH¢19.07 per litre represents a 10.23 per cent increase from the current average of GH¢17.30.
The latest development has renewed fears among motorists, commercial drivers and businesses that diesel could soon approach the psychologically significant GH¢20-per-litre mark.
For commercial drivers, particularly taxi and delivery operators, every increase in the cost of fuel translates directly into higher operating costs.
Transport operators have previously threatened significant fare increases, with increases of as much as 30 per cent being contemplated if fuel prices continue to climb.
Should such increases materialise, commuters would be forced to spend substantially more on daily transportation, placing additional pressure on already stretched household budgets.
‘FUEL HAS EATEN ALL MY INCOME’ — TAXI DRIVER
Samson Alami, a taxi driver at Madina, described the situation as devastating and appealed to the government to intervene.
“The high cost of fuel has rendered my business useless. I spend all my earnings on fuel and I am unable to make sales at the end of the day.”
He questioned the government’s economic direction and appealed to President John Mahama to take urgent steps to bring down fuel prices.
“This is not what the government promised us. The President must do something about it and reduce the fuel price.”
BARBER CALLS FOR TAX RELIEF
Jerry Asante, a barbering-shop operator at Adenta, also expressed concern about the impact of rising fuel prices on small businesses.
He called on the government to compel the National Petroleum Authority and other relevant agencies to examine the taxes and levies imposed on petroleum products as part of measures to cushion consumers.
According to him, higher fuel prices do not only affect motorists but also increase the cost of operating small businesses, transporting goods and purchasing basic necessities.
POVERTY FEARS
The latest fuel-price threat has also intensified concerns about Ghana’s poverty situation.
The World Bank has warned of persistently high poverty levels in Ghana, with poverty remaining a major challenge despite the country’s recent economic recovery. Higher fuel and transportation costs could further erode household purchasing power, particularly among low-income families.
The danger is that a fuel-price increase could create a chain reaction across the economy.
Higher fuel prices mean higher transport costs. Higher transport costs increase the cost of moving food and merchandise. Businesses then pass increased operating costs on to consumers, creating another round of price increases.
For ordinary Ghanaians, the result could be yet another squeeze on already depleted household incomes.
UNEMPLOYMENT AND CRIME FEARS
There are also growing concerns that worsening economic hardship, coupled with limited employment opportunities, could increase social tensions and potentially contribute to rising criminal activity.
With many households already struggling to meet basic expenses, another sharp increase in the cost of transportation and essential goods could push vulnerable families deeper into financial distress.
