What are the current fuel prices in Ghana today? As of March 16, 2026, petrol prices have surged to GH¢12.49 per litre at Star Oil, while diesel is now priced at GH¢15.99 per litre. GOIL, another major fuel supplier, has set its petrol price at GH¢11.57 per litre and diesel at GH¢14.35 per litre.
This sharp increase in fuel prices is primarily driven by a significant rise in global crude oil prices, which have escalated from $71.41 to $86.55 per barrel in mid-March 2026. According to the Chamber of Oil Marketing Companies (COMAC), petrol prices could potentially increase by 16.93%, bringing them to GH¢14.32 per litre, while diesel prices may rise by 17.21% to GH¢16.10 per litre.
The price hikes are attributed to international market pressures, particularly geopolitical tensions in the Middle East and disruptions in the Strait of Hormuz. Riverson Oppong, a representative from the oil sector, stated, “The ex-refinery price depends solely on international benchmark prices.” He further emphasized the impact of refinery operations on global market stability, noting, “You cannot have a refinery with a capacity of over 500,000 barrels per day shutting down and expect the global market to remain stable.”
Despite these increases, Oppong assured consumers that Ghana is not currently facing a fuel supply shortage. This reassurance comes amidst concerns that rising prices could lead to broader economic implications for consumers and businesses alike.
Recent fuel price increases in Ghana are largely the result of global market pressures rather than domestic policy decisions. As the situation evolves, consumers and industry stakeholders will be closely monitoring further developments in both local and international markets.
Details remain unconfirmed regarding the potential for additional price hikes in the coming weeks, as the market continues to react to ongoing geopolitical events and fluctuations in crude oil prices.
