The Chamber of Oil Marketing Companies (COMAC) has projected a significant reduction in fuel prices from June 16, 2026, with petrol expected to record the largest drop among major petroleum products.
According to COMAC’s latest pricing outlook, petrol prices are expected to decrease by 9.31% during the second pricing window of June. Diesel prices are projected to fall by 1.65%, while Liquefied Petroleum Gas (LPG) is expected to decline by 0.52%.
The Chamber attributed the anticipated reductions to a sharp decline in international refined petroleum product prices, describing it as the most significant drop recorded since the beginning of 2026.
Data released by COMAC on Monday, June 15, 2026, showed that prices of refined petroleum products on the international market declined considerably ahead of the new pricing window.
LPG recorded the highest international price reduction at 19.94%, followed by petrol at 15.21% and diesel at 10.17%.
Global crude oil prices also fell sharply during the review period, dropping from US$110.59 per barrel to US$97.32 per barrel, representing a decline of approximately 12%.
Despite the favourable developments on the international market, COMAC noted that the reduction in diesel prices is expected to be relatively moderate following the full removal of the government-industry intervention mechanism.
Similarly, LPG prices are projected to experience only a marginal decline due to existing supply contracts and tender arrangements that have locked in costs.
The projected reduction in fuel prices comes despite a slight depreciation of the Ghana cedi against major international currencies.
During the review period, the exchange rate moved from GH¢11.59 to GH¢11.80 to the US dollar, representing a depreciation of about 2.45%.
Meanwhile, the National Petroleum Authority (NPA) has announced new benchmark price floors for petroleum products for the second pricing window of June.
The benchmark price floor for petrol has been reduced from GH¢15.20 per litre to GH¢13.39 per litre, representing a decrease of GH¢1.81 per litre, or nearly 12%.
For diesel, the benchmark price floor has been lowered from GH¢15.49 per litre to GH¢15.11 per litre, reflecting a reduction of GH¢0.38 per litre.
LPG’s minimum benchmark price has also been revised downward from GH¢13.48 per kilogram to GH¢13.23 per kilogram, representing a decline of GH¢0.25 per kilogram.
The benchmark price floors serve as the minimum prices at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are expected to sell petroleum products during the pricing window.
If implemented by fuel retailers, the anticipated reductions are expected to provide relief to consumers, transport operators, and businesses, particularly as fuel costs remain a major factor influencing the cost of living and business operations across the country.
