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Fuel prices set to rise despite possible government intervention — Chamber of OMCs
May 13, 2026
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Fuel prices set to rise despite possible government intervention — Chamber of OMCs

Money
Policy
Growth

Key Points

  • Ghanaian fuel prices are projected to increase from May 16, 2026, regardless of whether the government extends its current consumer-cushioning policy.
  • If the policy is extended, petrol could rise 2.5-3% to GH¢14.50/litre, and diesel by 1.8% to GH¢16.50/litre.
  • Should the policy lapse, petrol could reach GH¢15.80/litre and diesel GH¢18.05/litre, indicating a sharper increase.
  • These increases are attributed to renewed global oil market volatility, with crude prices nearing $107/barrel due to factors like potential US strikes on Iran.
  • The projected price hikes are expected to fuel domestic inflation, particularly affecting transport and energy costs, despite international institutions forecasting single-digit inflation for Ghana by end of 2026.

Why This Matters

This matters for Ghana as rising fuel prices directly impact the cost of living for citizens and operational expenses for businesses, potentially stoking inflation and reducing purchasing power. The government faces a critical policy decision on whether to continue subsidizing fuel, balancing fiscal sustainability with consumer relief, which will have significant economic ripple effects across all sectors.

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