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Fuel prices set to rise from May 16 despite possible extension of gov’t intervention
May 13, 2026
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Fuel prices set to rise from May 16 despite possible extension of gov’t intervention

Money
Policy
Growth

Key Points

  • Petroleum product prices in Ghana are projected to rise from May 16, 2026, even if the government extends its consumer cushioning program.
  • If the policy is extended, petrol prices could increase by 2.5-3% to GH¢14.50/litre and diesel by 1.8% to GH¢16.50/litre.
  • Without the policy extension, petrol prices could climb to GH¢15.80/litre and diesel to GH¢18.05/litre, indicating a significantly larger hike.
  • LPG pricing will depend on market stock, and importing products from Nigeria is cautioned against as a direct solution for lower prices.
  • Global crude oil prices are rising due to geopolitical tensions, which is expected to feed into domestic inflation, although institutions predict Ghana will achieve single-digit inflation by year-end.

Why This Matters

This analysis is crucial for Ghana as rising petroleum prices directly impact the cost of living, transportation, and doing business across all sectors. It highlights the government's ongoing challenge to balance fiscal policy with consumer welfare, with potential implications for inflation and broader economic stability.

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