Ghanaians should brace themselves for another round of fuel price hikes beginning Monday, September 1, 2025, as the Chamber of Oil Marketing Companies
Ghanaians should brace themselves for another round of fuel price hikes beginning Monday, September 1, 2025, as the Chamber of Oil Marketing Companies (COMAC) has projected significant increases in the prices of petrol, diesel, and liquefied petroleum gas (LPG).
According to a pricing outlook report, petrol prices are expected to rise by 3.86% to 5.40% per litre, potentially pushing the cost to GHS 13.67 per litre.
Diesel is projected to climb by 3.39% per litre, taking prices to about GHS 14.35, while LPG could see an increase of up to 4.57% per kilogram.
The Cedi Factor
The major driver behind the hikes is the persistent depreciation of the Ghana cedi against the US dollar.
COMAC’s report notes that the exchange rate shifted from GHS 10.71 to GHS 11.20 within a month, representing a 3.98% decline, the steepest since the beginning of 2025.
The chamber explained that despite international market prices of petroleum products showing a downward trend—petrol down by 0.45%, diesel by 3.73%, and LPG by 1.73%—the cedi’s depreciation has effectively wiped out the benefits of cheaper global crude oil for Ghanaians.
Domestic Challenges And Levies
Industry watchers argue that other factors are also compounding the price hikes.
The recent introduction of a GHS 1 levy on petroleum products has contributed to the upward trend at the pumps.
Additionally, recurring shortfalls in petrol supply earlier this month worsened the situation. Some oil marketing companies (OMCs) were forced to adjust prices upwards as early as mid-August 2025, even when international prices suggested stability.
Historical Context
This latest adjustment follows a series of hikes throughout 2025, largely tied to fluctuations in the foreign exchange market and global energy uncertainties.
Ghana, which imports the bulk of its refined petroleum products, remains highly vulnerable to shocks in both currency performance and international oil markets.
Since the beginning of the year, consumers have endured multiple increases, sparking concerns from transport operators and labour unions about the knock-on effects on fares, cost of goods, and inflation.
In January, petrol was selling below GHS 12 per litre, but the steady depreciation of the cedi has kept fuel prices on an upward trajectory.
Implications For Consumers
The expected hike from September 1 means motorists and households will once again feel the pinch at a time when inflationary pressures remain high.
The Transport unions are likely to push for fare adjustments, while businesses may struggle with increased operating costs.
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