Oil
Ghana fuel prices shift as petrol drops and LPG rises
Selected oil marketing companies in Ghana have lowered petrol pump rates for the second October pricing window, while liquefied petroleum gas users face anticipated cost increases.
Key points
- Star Oil adjusted its petrol price down to GH¢16.45 per litre.
- The Chamber of Oil Marketing Companies projects liquefied petroleum gas to climb past GH¢20.60 per kilogramme.
- International product movements showed declines for diesel and petrol alongside an increase for liquefied petroleum gas.
- Local currency depreciation against the US dollar continues to exert pressure on domestic fuel costs.
Price adjustments at the pump
Certain oil marketing companies in Ghana have initiated pump price reductions at the start of the second pricing window for October 2026. MyJoyOnline reported that Star Oil adjusted its petrol rate to GH¢16.45 per litre, down from GH¢16.64.
Additional petroleum distributors indicated plans to evaluate their tariff structures while observing competitor actions. However, consumers utilizing liquefied petroleum gas anticipate an upward price adjustment exceeding 18 percent, with the Chamber of Oil Marketing Companies estimating a retail level around GH¢20.60 per kilogramme.
Market drivers and currency pressure
According to the Chamber, global petroleum market shifts, foreign exchange pressures, and recent state measures influenced the projected cost movements. Average crude figures advanced by 2.03 percent to reach US$126.73 per barrel for the October 16 window.
Supply concerns linked to a proposed US-backed energy ceasefire involving Ukraine and attacks on Saudi Arabia amid the conflict with Iran contributed to the crude rise. Refined goods displayed contrasting trends internationally, as diesel and petrol values dropped by 6.68 percent and 3.93 percent respectively, while international liquefied petroleum gas rose by 7.77 percent.
Simultaneously, the Ghanaian cedi weakened by 1.61 percent against the US dollar between September 26 and October 11, 2026, registering an average bank rate of GH¢11.8222. The Chamber noted that the currency has fallen over 11 percent since the year began, driven by seasonal import requirements and elevated energy expenses, which will restrict how much international price declines translate to local consumers.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
