COPEC Warns of Fuel Price Hike Amidst Global Market Pressures

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has attributed the projected increase in fuel prices to external market forces beyond Ghana’s control. According to a report by Citi Newsroom, ex-pump prices for petrol, diesel, and liquefied petroleum gas (LPG) are expected to rise by 1.97 per cent, 2.73 per cent, and 3.26 per cent, respectively, in the next pricing window.

Analysts say the anticipated hikes are largely driven by the cedi’s depreciation against major trading currencies and rising international petroleum product prices. Speaking to media, on February 14, 2026, Mr. Amoah explained that global price movements and exchange rate pressures are the primary triggers.

“We are dealing with international factors or dynamics. What you have is a situation where the international market has gone up slightly. Petrol did about 4%, diesel did 5%, and LPG 6%. We also have the cedi nose down a little by GH¢1.

If you put the two together, you will clearly not have the same price. So, we will pay more by Monday, unfortunately,” he said.

Mr. Amoah noted that although international prices increased by 4-6 per cent, local adjustments may be slightly moderated. “When you look at the numbers, instead of getting between 3-6%, you might get the market do between 2-3%. But whatever happens, the market will not be able to hold without adjusting upwards.

As of Friday, what the market was buying, they were buying a bit higher in anticipation of the price hike,” he added.

The COPEC Executive Secretary stressed that the market would inevitably respond to these external pressures, with increases likely to fall within the 2-4 per cent range. The projected upward adjustment is expected to have ripple effects on transport fares and the general cost of living if implemented in the coming days.

The anticipated price hike has raised concerns among consumers and businesses, who are worried about the impact on their budgets and the overall economy. The increase in fuel prices is likely to lead to higher transportation costs, which could lead to increased prices for goods and services.

The government has been urged to take measures to mitigate the impact of the price hike on vulnerable households and businesses. However, Mr. Amoah emphasized that the price increase is driven by global market forces and that the government has limited control over it.

The new prices are expected to take effect on Monday, February 17, 2026.