October Fuel Price Hike To Raise Transport Fares, Cost Of Goods And Services — Energy Expert.

The Chamber of Petroleum Consumers Ghana (COPEC) has projected a 22.91% increase in diesel prices and a 5.21% rise in petrol prices effective October 1, 2026, citing the depreciation of the cedi and high international crude oil prices.

Speaking on the GIFTS FM Anopa Bosuo morning show, Energy Expert Dr. Eric Effah Donyina said the projected increases could trigger higher transport fares and prices of goods and services, worsening economic hardship.

He explained that although Ghana produces crude oil, the country cannot independently determine petroleum prices because they are influenced by international market prices and the exchange rate.

Dr. Donyina said the government could cushion consumers by reducing taxes on petroleum products or subsidising fuel prices, although such measures could affect government revenue for other development activities.

He also urged politicians to avoid using fuel-price fluctuations for political gains, noting that several factors beyond government control influence prices.

He called for efforts to sustain the Tema Oil Refinery (TOR) and increase domestic refining to reduce dependence on imported petroleum products and associated costs.

Story By: Kwaku Mensah Abrampa (GIFTs FM -Dormaa Ahenkro.