Some Oil Marketing Companies (OMCs) have begun adjusting prices at the pumps, with GOIL leading the move. A litre of petrol is now selling at GH¢13.3
Some Oil Marketing Companies (OMCs) have begun adjusting prices at the pumps, with GOIL leading the move.
A litre of petrol is now selling at GH¢13.38, up from GH¢12.99 on September 2, 2025, while diesel has increased to GH¢14.20 per litre, from GH¢13.90.
GOIL, the country’s second-largest player in the downstream industry, is the first to adjust prices after most OMCs left theirs unchanged for about a week, despite projections of a 6% increase per litre from mid-September. Analysts say it remains to be seen whether other OMCs—over 200 nationwide—will follow suit.
Projected Adjustments
The Chamber of Oil Marketing Companies (COMAC) had earlier projected that:
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Petrol could rise between 3.66% and 5.86%, reaching around GH¢14.17 per litre.
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Diesel could increase between 2.12% and 4.32%, potentially hitting GH¢14.67 per litre.
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Liquefied Petroleum Gas (LPG) could rise by 2.23% to 4.23%, retailing at about GH¢14 per kilogram.
Drivers of the Price Hike
According to COMAC, the key factor behind the upward adjustment is the depreciation of the Ghana cedi against the US dollar. During the pricing window, the cedi weakened from GH¢11.20 to GH¢12.07 to the dollar—a 7.76% decline—bringing its year-to-date loss 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.
Ironically, on the international market, prices of crude oil and refined petroleum products fell—petrol by 2.52%, diesel by 4.12%, and LPG by 2.69%. However, the cedi’s depreciation offset these declines, making domestic price increases unavoidable.
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