By Franklin ASARE-DONKOH
Ghanaian consumers and businesses are set to receive significant financial relief as retail prices for petrol, diesel and Liquefied Petroleum Gas (LPG) are projected to fall sharply starting Tuesday, June 16, 2026.
According to the latest market outlook released by the Chamber of Oil Marketing Companies (COMAC), the impending price reductions are primarily driven by a steep decline in global crude oil prices.
COMAC has announced a substantial downward adjustment in petroleum product prices across the country ahead of the second pricing window of June 2026.
The projected drop brings relief to motorists, households and commercial transport operators who have faced high operational costs.
In its official statement, COMAC detailed the following expected changes at local retail pumps:
Petrol, which is mostly used by private vehicles, is projected to record the sharpest decline, falling by up to 9.31%. This brings the retail price floor down to approximately GH¢14.72 per litre, representing significant savings compared to previous weeks.
Diesel is expected to decline by about 1.65%, bringing the expected pump price to approximately GH¢17.02 per litre.
LPG is also projected to decrease by 0.52%, reducing retail benchmarks to about GH¢17.20 per kilogram.
According to COMAC, the primary driver behind this relief is a sharp downturn in the international energy market.
Global crude oil benchmarks fell significantly after diplomatic breakthroughs, highlighted by a mediated peace agreement between the United States and Iran, signalled the reopening of the strategic Strait of Hormuz.
Following the announcement, Brent crude fell by 4.8% to $83.18 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped by 5.6% to settle at $80.13 per barrel.
This reduction in international refined product costs has significantly lowered procurement expenses for Ghana’s Oil Marketing Companies (OMCs).
The reductions come at a crucial time for Ghanaian consumers. Earlier this month, local transport unions, including the Ghana Private Road Transport Union (GPRTU), implemented a 20% transport fare increase, citing rising fuel costs.
Industry experts hope that the sharp decline under the National Petroleum Authority (NPA) pricing framework will help stabilise transport fares and ease broader inflationary pressures on food and other basic goods.
Individual OMCs are expected to reflect the reduced prices at their respective service stations nationwide from Tuesday, June 16, 2026.
