National Petroleum Authority and COMAC Project Mixed Fuel Price Adjustments as Global Tensions Drive Crude Volatility

Consumers in Ghana are set to experience mixed pricing for petroleum products beginning August 16, 2026, as the National Petroleum Authority (NPA) and the Chamber of Oil Marketing Companies (COMAC) announce adjustments for the second pricing window of the month. While petrol and Liquefied Petroleum Gas (LPG) prices are expected to decline, diesel prices are projected to see a marginal increase. The NPA has officially lowered the price floors for petrol and LPG, with petrol dropping by approximately 4.2% to GH"13.92 per litre and LPG falling to GH"10.98 per kilogram. However, diesel remains on a different trajectory, with its price floor set at GH"15.19 per litre, leading to a projected retail price of GH"17.73.

According to COMAC, retail petrol prices are expected to settle around GH"15.82 per litre, a decrease of up to 2.90%. LPG users will also see relief as prices fall by GH"0.93 to approximately GH"16.21 per kilogram. These adjustments are heavily influenced by a 2.02% rise in average international crude oil prices, which have climbed to approximately US$90.41 per barrel. Despite the global surge, the relative stability and recent strengthening of the Ghana cedi, which stood at GH"10.98 to the US dollar as of mid-August, have helped mitigate even steeper price hikes at the pumps.

On the global stage, oil prices have steadied following threats from the United States regarding an indefinite naval blockade of Iran. This geopolitical tension in the Strait of Hormuz has heightened supply concerns, keeping Brent crude futures near $87.08. While OPEC and the IEA have projected lower demand growth, these supply risks continue to exert upward pressure on local fuel costs. To provide temporary relief, the government has announced it will absorb GH"2 of the price of diesel for August 2026, a move intended to support businesses and transport operators facing high operational costs.

Parallel to these economic shifts, the NPA has issued a stern warning regarding public safety and criminal activity at fuel tanker accident scenes. Prospero Kojo Cyriaano-Olympio, the NPA's Volta Regional Manager, emphasized that individuals caught siphoning fuel from overturned tankers will face prosecution. The 'Stay Back Stay Safe' campaign aims to prevent the fatalities and injuries that have historically occurred during such incidents. As the new pricing window takes effect, industry players have been reminded to adhere to the NPA's pricing floors while consumers are urged to prioritize safety over illegal fuel collection.