Fuel prices in Ghana are expected to rise sharply from March 16, 2026, according to a new outlook by the Chamber of Oil Marketing Companies. The report indicates that petrol prices could increase by about 16.93 percent, diesel by 17.21 percent, and liquefied petroleum gas by 11.26 percent, marking the fourth anticipated fuel price hike since January but the largest so far this year.
If implemented, petrol could sell for around GH¢14.32 per litre, while diesel may reach GH¢16.10 per litre. The surge is largely driven by rising global crude oil prices, which jumped from about $71.41 to $86.55 per barrel amid geopolitical tensions in the Middle East and disruptions along the strategic Strait of Hormuz shipping route.
The National Petroleum Authority has raised minimum price floors for fuel, meaning oil marketing companies must adjust pump prices upward to comply with the new regulatory benchmarks. The increases will compound pressure on Ghanaian households and businesses already grappling with elevated inflation and currency depreciation.
For an economy that imports refined petroleum products, each dollar increase in global crude prices translates directly into higher domestic fuel costs. The timing is particularly challenging as Ghana continues its recovery under an International Monetary Fund programme, with rising energy costs threatening to push inflation higher and complicate fiscal planning.
