Star Oil has increased the price of petrol to GH¢12.49 per litre as of March 16, 2026, marking a notable change from the previous price of GH¢12.90 announced just a day earlier. The price for diesel has also risen, now set at GH¢15.99, up from GH¢14.36.
In comparison, GOIL’s petrol price has seen a slight increase to GH¢11.57 per litre, while its diesel price has jumped to GH¢14.35, up from GH¢12.88.
This price adjustment comes in the wake of a significant rise in global crude oil prices, which surged from $71.41 to $86.55 per barrel in mid-March 2026. The Chamber of Oil Marketing Companies (COMAC) has indicated that petrol prices could rise by as much as 16.93% to GH¢14.32 per litre, while diesel prices may increase by 17.21% to GH¢16.10.
International refined product prices have also seen a dramatic increase, with diesel prices reportedly rising by up to 43%. Demand for petroleum products surged sharply over the weekend leading up to March 16, 2026, prompting concerns about further price hikes.
Some Oil Marketing Companies (OMCs) have suggested that diesel prices could increase by more than 50 pesewas per litre, indicating a volatile market environment. This marks about the fourth time since January that fuel prices have been projected to rise, reflecting ongoing pressures in the global oil market.
Edward Bawa, a representative in the sector, commented on the situation, stating, “The challenge I had with my brother was a healthy exchange, which I respect him.” He further noted, “When you say that they should take off the floor, the least you could have done in the night economy is to equalise the floor.”
The Chamber of Oil Marketing Companies attributes these expected price increases to the recent surge in global crude oil prices, emphasizing the interconnectedness of local fuel prices with international market trends.
Details remain unconfirmed regarding the full impact of these changes on consumers, but the rising costs are likely to affect transportation and goods prices across the region.
