Mr Eric Ofori, the head of research for the Chamber of Petroleum Consumers (COPEC), has confirmed that Ghanaians will see an increase in fuel prices at the pump at the start of the second pricing window of September.
Speaking to Alfa Ali on the Orange Sunrise on Tuesday, September 15, 2026, he explained that international fuel costs and other key factors significantly affect fuel prices in Ghana.
” You have to look at the various parameters that make up the ex-pump prices, that is, taxes and levies and, most importantly, the cost of the product on the international market and then you look at the cedi-dollar relationship. When you take these into perspective, you realise that the benchmarks on the international market have spiked”, he said.
Mr Ofori added that the international benchmark has largely spiked, with petrol going from US$ 1136 per metric tonne to about US$1250, which represents about a 10 per cent increase over the year.
Diesel has also experienced a significant increase, rising from US$1251 per metric tonne to US$1,404, showing a 12 per cent increase.
LPG has also risen from US$590 per metric tonne to US$ 700, indicating about a 16 per cent increase.
More emphatically, Mr Ofori revealed that the indicators are not favourable for Ghana, especially given that Ghana depends heavily on international imports. He also compared the dollar to the cedi, although the cedi appreciated by 0.29 per cent during the trading period, which affected fuel prices.
” Clearly, the indicators are not looking good for us as a country”, Mr Ofori stated.
The Head of Research said that while government interventions are good short-term solutions, to find a long-term solution to protect consumers, the government has to prioritise its commitment to revamping and increasing the capacity of local refineries, including the Tema Oil Refinery and the Sentuo Oil Refinery, to meet local demand.
