Fuel prices set for marginal increase in March, LPG to fall – COPEC

Petroleum prices are expected to rise marginally from the first pricing window of March 2026, according to projections by the Chamber of Petroleum Consumers (COPEC).

In a statement dated 25 February, COPEC said petrol prices could increase by about 3.59 per cent, while diesel is projected to rise by 1.52 per cent. Liquefied petroleum gas (LPG), however, is expected to record a marginal decline of about 1.57 per cent at the pumps.

The projected changes are driven by modest increases in international petroleum prices, despite a slight appreciation of the cedi. COPEC’s analysis shows that global crude oil prices rose by about 1.25 per cent during the review period, moving from $70.90 to $71.79 per barrel. Over the same window, the cedi strengthened marginally against the US dollar, appreciating by about 0.24 per cent.

Petrol prices are expected to rise after the international free-on-board (FOB) price increased by 5.03 per cent, from $652.64 to $685.27 per metric tonne. Based on this, petrol is projected to sell between GH¢11.80 and GH¢13.00 per litre.

Diesel prices are also set to increase slightly, following a 2.29 per cent rise in the international FOB price, from $695.94 to $711.86 per metric tonne. Diesel is expected to retail between GH¢12.73 and GH¢14.00 per litre.

In contrast, LPG prices are projected to ease marginally. COPEC noted that the international FOB price of LPG declined by about 1.5 per cent, from $508.77 to $503.59 per metric tonne, which, combined with the cedi’s appreciation, could push retail prices down to between GH¢11.48 and GH¢12.69 per kilogramme.

Despite the anticipated increases in petrol and diesel prices, COPEC has urged oil marketing companies to maintain price stability where possible to reduce the burden on consumers.