The prices of petroleum products are expected to record some mixed reviews at the pumps, from June 1, 2026.
This is based on the price outlook of the various products released by the Chamber of Oil Marketing Companies (COMAC) on May 29, 2026, and sighted by Joy Business.
Breakdown
Based on data picked up from the COMAC, the price of petrol is expected to go up between 4.20% and 6.20 %. This could result in a litre going for GH¢15.92 at the pumps.
LPG, on the other hand, could go up by as much as 2.24 %, resulting in a kilogram going for GH¢17.30
Diesel, however, is expected to go down between 1.65% and 2.00%, resulting in a litre going GH¢17.21
These projections are based on oil marketing firms that are buying the various petroleum products on credit from the bulk oil distributors.
Reasons for Mixed Price Reviews at Pumps
According to the Chamber of Oil Marketing Companies (COMAC), the mixed price reviews was due to lower global prices and continued Government-Industry interventions.
COMAC added that the Joint Government-Industry measure that was extended from May 16, 2026, had played a significant role in the pricing outlook for this week, including the margin of increase for petrol.
Under the revision, the intervention has been zeroed out for petrol and reduced to GH¢1.07 for diesel. This should mean that consumers continue to receive some cushioning from the full impact of the higher global market prices, while prices progressively adjust towards prevailing international market prices.
Interestingly, oil prices on average, have decreased in late May from $112.07 a barrel to $110.59
Refined Petroleum products prices on the international market have also shown mixed movements for the 1st June pricing window. LPG recorded the steepest decline at 5.53%, followed by diesel at 5.35%, while petrol increased moderately by 3.0%.
Similarly, the Ghana cedi has depreciated slightly against the major trading currencies. For June 1st, 2026, the local currency rose from GH¢11.30 to GH¢ 11. 59 per gallon.
The cedi’s depreciation has been driven by dollar demand, dividend repatriation, gold export disruption and a cautions Bank of Ghana intervention.
Price Floor
The National Petroleum Authority on May 28, 2026, announced the price floor for June 1 to June 16 window, which showed that no oil marketing company should sell a litre of petrol below GH¢15.20. This actually marks an increase from the price quote at the last pricing window.
On the other hand, diesel has been set at GH¢15.49, from the May 16, 2026, quote.
This should mean that OMCs should sell below this price at the pumps from June 1, 2026.
