Ghanaians are to brace for a significant jump in fuel prices from March 16, 2026, with petrol, diesel and LPG all set to rise by double-digit margins, the steepest increase recorded so far.

According to a myjoyonline.com report, the latest outlook report by the Chamber of Oil Marketing Companies (COMAC) projects that petrol will go up by 16.93%, bringing the price of a litre to GH₵14.32.

Diesel is set to rise even further by 17.21%, with a litre expected to sell at GH₵16.10. Liquefied Petroleum Gas (LPG) will also see an 11.26% increase per kilogram.

This marks the fourth fuel price adjustment since January, but stands out as the most severe in terms of the margin of increase across all three petroleum products.

Why Are Prices Rising?

COMAC attributed the surge primarily to escalating geopolitical tensions in the Middle East and disruptions to the Strait of Hormuz, a critical maritime oil transit route, which have tightened global supply and driven up international crude prices sharply.

Oil prices jumped from $71.41 to $86.55 per barrel in mid-March 2026 alone.

The ripple effect on international petroleum product prices has been significant, with diesel rising by as much as 43% on the global market, LPG by 23.96% and petrol by 19.41%.

Electricity, water bills to drop from April 1

New price floors Set by the NPA

The National Petroleum Authority (NPA) has also revised its minimum price floors for the second pricing window of March, effective March 16 to 31.

Under the new thresholds, petrol cannot be sold below GH₵11.57 per litre, up from GH₵10.46.

Diesel's floor has risen sharply from GH₵11.42 to GH₵14.35 per litre, a movement industry observers describe as one of the sharpest single-window adjustments in recent memory. LPG has been adjusted to GH₵10.67 per kilogram, from GH₵9.38.

The NPA has directed all Oil Marketing Companies and LPG Marketing Companies to comply with the new price floors, warning that any company currently selling below these levels must adjust upward immediately.

The increases are expected to have a knock-on effect on transportation costs and the broader cost of living for Ghanaians already navigating a challenging economic environment.

ID/AE

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