Some Oil Marketing Companies (OMCs) have begun adjusting prices at the pumps, with GOIL taking the lead.
A litre of petrol is now selling at GH¢13.38, up from GH¢12.99 on September 2, 2025, while diesel has climbed to GH¢14.20, from GH¢13.90.
GOIL, the second-largest player in the sector, is the first to revise prices after most OMCs held theirs steady for about a week, despite projections of a 6% increase per litre from September 16. It remains unclear whether other OMCs over 200 nationwide will follow suit.
Projected Adjustments
According to the Chamber of Oil Marketing Companies (COMAC), pump prices were expected to rise within the following ranges:
- Petrol: 3.66%–5.86%, reaching about GH¢14.17 per litre.
- Diesel: 2.12%–4.32%, potentially climbing to GH¢14.67 per litre.
- LPG: 2.23%–4.23%, retailing at roughly GH¢14 per kilogram.
Why Prices Are Rising
The upward adjustments are being driven mainly by the depreciation of the Ghana cedi against the US dollar.
During the review period, the cedi slipped from GH¢11.20 to GH¢12.07 to the dollar a 7.76% loss, bringing its year-to-date depreciation to 14.02%, one of the sharpest globally, according to Bloomberg.
“The decline is primarily due to strong demand for the dollar for imports ahead of the festive season,” COMAC explained.
On the international market, crude oil and refined product prices actually fell:
- Petrol by 2.52%
- Diesel by 4.12%
- LPG by 2.69%
However, COMAC stressed that the cedi’s steep depreciation has offset global declines, making domestic price hikes unavoidable.
