Some Oil Marketing Companies (OMCs) have begun adjusting fuel prices at the pumps as of March 1, 2026, following industry projections of a 1% to 3% increase per litre
Checks by Joy Business on March 2 confirmed that GOIL has raised the price of petrol to GH¢10.46 per litre, up from GH¢10.24. Diesel prices, however, remain unchanged at GH¢12.53 per litre.
GOIL explained that the new figures reflect discounted prices at about 200 service stations nationwide, suggesting that prices at other outlets could be slightly higher. The adjustment also shows compliance with the petrol price floor set by the National Petroleum Authority (NPA), though diesel is being sold above the minimum benchmark of GH¢11.42.
Other major OMCs have indicated they may revise prices in the coming days, with some opting to monitor market competition before making adjustments. Under strict NPA guidelines, petrol cannot be sold below GH¢10.42 per litre, while diesel must not fall below GH¢11.42.
What’s Driving the Changes
The price movements are largely attributed to rising crude oil and refined product prices on the international market over the past two weeks. The impact has been partly cushioned by the cedi’s marginal appreciation.
Data from the Chamber of Oil Marketing Companies (COMAC) suggest petrol prices could climb by as much as 2.89% to around GH¢12.04 per litre, while diesel may rise by 0.86% to approximately GH¢13.22. LPG prices are expected to dip slightly to GH¢13.87 per kilogramme—the first decline this year.
Meanwhile, Brent crude traded at about US$78 per barrel on March 2 amid escalating Middle East tensions, with analysts warning prices could surge to US$100 per barrel if instability persists.
