{"id":117159,"date":"2026-02-27T18:46:03","date_gmt":"2026-02-27T18:46:03","guid":{"rendered":"https:\/\/sotnews.agency\/?p=117159"},"modified":"2026-02-27T18:46:03","modified_gmt":"2026-02-27T18:46:03","slug":"fuel-prices-to-increase-marginally-from-march-1-driven-by-crude-price-surge","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=117159","title":{"rendered":"Fuel prices to increase marginally from March 1, driven by crude price surge"},"content":{"rendered":"
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Prices of petroleum products are set to increase marginally from March 1, 2026.<\/p>\n

That is according to the latest outlook report by the Chamber of Oil Marketing Companies (COMAC), which guides pricing decisions for oil marketing companies and was seen by Joy Business.<\/p>\n

This marks the third time since January this year that fuel prices are projected to rise.<\/p>\n

However, this time, the spike has been influenced and driven largely by rising crude oil prices on the international market, as well as increases in finished petroleum product prices.<\/p>\n

Our checks show that the rate of increase could have been higher if the cedi had not posted some marginal appreciation against major trading currencies over the past two weeks.<\/p>\n

According to the Chamber of Oil Marketing Companies, the Ghana cedi appreciated marginally against major trading currencies.<\/p>\n

For instance, during the March 1, 2026, Databank pricing window, the currency moved from GHS 11.09 to 11.04 per US dollar, representing a 0.45 percent surge.<\/p>\n

Databank, in its market research report, noted that the cedi\u2019s recent appreciation aligns with gains in other major sub-Saharan African currencies, reflecting broad external support driven by sustained dollar weakness.<\/p>\n

Expected Price Hikes<\/strong><\/p>\n

COMAC\u2019s data shows that petrol prices are expected to increase by 2.89 percent and could result in a price of GHC 12.04 per litre.<\/p>\n

Diesel prices are projected to rise by 0.86 percent, with a litre likely to sell for around GHS13.22.<\/p>\n

Liquefied Petroleum Gas (LPG), for the first time this year, is expected to go down marginally and, from March 1, should sell at the pumps at GHS 13.87 per kilogram.<\/p>\n

However, based on current market conditions, not all major oil marketing companies may move quickly to increase prices from this weekend or from March 1, 2026.<\/p>\n

Reasons<\/strong><\/p>\n

COMAC\u2019s data indicate that the projected price increases are largely driven by rising prices of finished petroleum products as well as crude oil prices.<\/p>\n

Oil prices are trading near a seven-month high amid speculation of potential US military action against Iran. Brent crude closed at about 71 dollars a barrel.<\/p>\n

Some energy analysts have projected that crude prices could hit 100 dollars a barrel.<\/p>\n

On the other hand, finished petroleum products recorded mixed movements. Petrol increased by 4.58 percent, and gas by 1.66 percent, while LPG fell by 1.05 percent.<\/p>\n<\/div>\n

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