Some Oil Marketing Companies (OMCs) have begun adjusting fuel prices in line with industry projections.

At Goil, the price of petrol is now selling at GH¢12.90 per litre, up from GH¢12.88. Diesel, however, has been reduced from GH¢14.30 to GH¢13.90.

Shell has also adjusted its prices, with petrol selling at GH¢13.59 per litre compared to the previous GH¢12.89.

Meanwhile, market leader Star Oil says its prices will remain unchanged until September 15, 2025. Currently, Star Oil is selling petrol at GH¢12.77 per litre and diesel at GH¢13.35.

Earlier, Chief Executive of the Chamber of Oil Marketing Companies (COMC), Dr. Riverson Oppong, told Joy Business that some firms had revised downwards the expected margin of increase for petroleum products this week.

Projected Prices

Last Friday, the Chamber projected petrol prices to rise between 3.86% and 5.40% per litre from September 1, 2025, with a possible increase to GHS 13.67 per litre.

LPG was expected to go up by as much as 4.57% per kilogram. Diesel was projected to rise by 3.39%, which could push the price to GHS 14.35 per litre.

Reasons for the Adjustments

According to the Chamber, the increases have been influenced by the cedi’s depreciation against the US dollar, which shifted from GH¢10.71 to GH¢11.20 in the past month — a 3.98% drop, described as the “highest since the start of this year.”

The Chamber also noted that crude oil prices on the international market have actually been falling: petrol by 0.45%, diesel by 3.73%, and LPG by 1.73%.

Some industry players argue that the recent one-cedi levy on petroleum products has also contributed to the increase.

Cedi Depreciation and Supply Challenges

Despite the global price drops, the Chamber stressed that the cedi’s depreciation and recurring shortfalls in petrol supply have forced prices upward.

Joy Business reported last week that supply challenges hit the market earlier this month, particularly for petrol. This pushed some OMCs to adjust their prices in mid-August, even before the usual review period.