Fuel prices have risen across Ghana, with GOIL, the nation’s second-largest Oil Marketing Company (OMC), adjusting pump prices to GH¢13.38 per litre for petrol (up from GH¢12.99) and GH¢14.20 per litre for diesel (up from GH¢13.90) as of September 23, 2025.
The increases, driven primarily by a 7.76% depreciation of the Ghana cedi against the US dollar (from GH¢11.20 to GH¢12.07), have sparked concerns about broader hikes among the over 200 OMCs nationwide.
The Chamber of Oil Marketing Companies (COMAC) had projected a 3.66% to 5.86% rise for petrol (potentially reaching GH¢14.17) and 2.12% to 4.32% for diesel (up to GH¢14.67), with Liquefied Petroleum Gas (LPG) expected to increase by 2.23% to 4.23% to about GH¢14 per kilogram. Despite global declines in crude oil and refined product prices—petrol down 2.52%, diesel 4.12%, and LPG 2.69%—the cedi’s 14.02% year-to-date loss, one of the steepest globally per Bloomberg, has offset these savings, fueled by strong dollar demand for festive season imports.
GOIL’s price adjustment, the first since September 2, comes after a week of stability among OMCs despite earlier forecasts of a 6% per litre increase from September 16. Industry watchers are uncertain if other OMCs will follow suit, potentially impacting transport costs and inflation, already at 12.43% for Q4 projections.
The development coincides with PURC’s 1.14% electricity tariff hike effective October 1 and ongoing MYTO consultations for 2025–2030, signaling broader economic pressures.
