Fuel prices in Ghana are headed for a mixed adjustment in the second pricing window of August, with petrol and liquefied petroleum gas (LPG) expected to inch up while diesel records a slight drop.
According to projections from the Chamber of Oil Marketing Companies (COMAC), petrol prices at the pump will rise between 0.39% and 2.71%, while LPG will see an increase of 0.15% to 2.34%. Diesel, however, is forecast to fall marginally by 0.21% to 0.72%.
COMAC attributes the changes to mixed global petroleum price trends, a modest depreciation of the cedi against the US dollar, and product-specific supply and demand factors.
“Following a slight dip in crude prices, diesel fell sharply by 5.22%, while petrol and LPG rose marginally by 1.89% and 2.87%, likely due to product-specific demand and supply factors,” the statement noted.
For the first August pricing window, based on exchange rates from July 27 to August 12, the cedi weakened 0.87% sliding from GHS 10.68 to GHS 10.77 per US dollar putting mild upward pressure on fuel import costs.
During the review period, Brent crude prices eased 0.23%, from $70.42 to $70.26 per barrel, weighed down by higher OPEC+ and non-OPEC output, softer futures sentiment, and reduced speculative positions. Globally, diesel prices dropped 5.22%, while petrol and LPG rose 1.89% and 2.87%, respectively.
COMAC says the projected changes align with prevailing global market movements, with only minimal increases expected for petrol and LPG in the upcoming window.
