Fuel prices could remain high despite easing tensions –COPEC

Fuel prices in Ghana could remain elevated even if some of the geopolitical tensions affecting the international oil market subside, the Executive Director of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has warned.

Mr Amoah said the factors influencing fuel prices extend beyond geopolitical developments, pointing to rising global demand, increased premiums and high logistics costs as key pressures that could keep prices at the pumps high.

His comments follow another increase in petroleum prices in Ghana under the latest pricing window, which took effect on Wednesday, September 16, 2026.

The National Petroleum Authority (NPA) subsequently set the minimum price of petrol at GH¢16.00 per litre, while diesel was priced at GH¢16.77 per litre.

Speaking on JoyNews, Duncan Amoah explained that Ghana’s fuel pricing situation was being influenced by several international market factors.

He said even if geopolitical tensions ease, consumers could still experience high prices because of the rising cost of premiums and logistics involved in bringing petroleum products into the country.

He also warned that increased demand for diesel during the winter period could add further pressure to the international petroleum market.

According to him, this combination of factors means fuel prices may not fall immediately simply because geopolitical tensions begin to ease.

Mr Amoah has meanwhile called for greater attention to domestic refining as a means of reducing some of the costs associated with importing refined petroleum products.

He argued that increased local refining could help Ghana avoid some of the additional costs incurred when finished petroleum products are imported at higher premiums.

He said strengthening the country’s domestic refining capacity would also reduce Ghana’s exposure to some of the costs associated with purchasing refined petroleum products from the international market.

His comments come as motorists and other consumers continue to face changes in fuel prices linked to developments in both the domestic and international petroleum markets.