Some Oil Marketing Companies (OMCs) have begun revising their pump prices, with GOIL taking the lead. Petrol, which previously sold at GH¢12.99 per litre on September 2, 2025, is now going for GH¢13.38, while diesel has moved from GH¢13.90 to GH¢14.20 per litre.
GOIL, Ghana’s second-largest OMC, is the first to implement these changes after most companies kept their prices unchanged for about a week, even though a projected increase of around 6% per litre was expected from September 16.
Industry analysts remain uncertain whether GOIL’s adjustment will influence other OMCs, which number over 200 nationwide, to follow suit.
The Chamber of Oil Marketing Companies (COMAC) had earlier forecasted that:
Petrol could rise between 3.66% and 5.86%, reaching about GH¢14.17 per litre.
Diesel might climb by 2.12% to 4.32%, potentially hitting GH¢14.67 per litre.
Liquefied Petroleum Gas (LPG) was expected to increase by 2.23% to 4.23%, retailing around GH¢14 per kilogram.
The major factor behind the increases is the sharp depreciation of the Ghana cedi against the US dollar. During the review period, the cedi weakened from GH¢11.20 to GH¢12.07 to the dollar, representing a 7.76% decline and bringing its total loss for the year to 14.02% — one of the steepest globally, according to Bloomberg.
COMAC attributed this fall mainly to high demand for dollars to finance imports ahead of the festive season.
Interestingly, crude oil and refined petroleum prices on the international market actually dropped — petrol by 2.52%, diesel by 4.12%, and LPG by 2.69%.
Nonetheless, COMAC explained that the local currency’s depreciation has overshadowed these declines, making upward adjustments at the pumps inevitable.
