Some Oil Marketing Companies (OMCs) have begun adjusting prices at the pumps, with GOIL leading the way.

A litre of petrol is now selling at GH¢13.38, up from GH¢12.99 on September 2, 2025. Diesel has also increased to GH¢14.20 per litre, from GH¢13.90.

GOIL, the second-largest player in the industry, is the first to adjust prices after most OMCs kept theirs unchanged for about a week, despite projections that prices should have gone up by about 6% per litre from September 16.

Industry watchers are uncertain whether GOIL’s move will trigger similar increases across the more than 200 OMCs nationwide.

Projected Adjustments

The Chamber of Oil Marketing Companies (COMAC) had earlier projected that:

• Petrol prices could rise by 3.66% to 5.86%, reaching around GH¢14.17 per litre.
• Diesel could increase by 2.12% to 4.32%, potentially hitting GH¢14.67 per litre.
• Liquefied Petroleum Gas (LPG) may rise by 2.23% to 4.23%, retailing at about GH¢14 per kilogram.

Reasons for the Increase

The main driver of the adjustment is the depreciation of the Ghana cedi against the US dollar.

COMAC noted that the cedi fell from GH¢11.20 to GH¢12.07 to the dollar during the review period — a 7.76% drop, bringing its year-to-date loss to 14.02%, one of the steepest globally according to Bloomberg.

“The decline is primarily due to strong demand for the dollar for imports ahead of the festive season,” COMAC explained.

On the global market, crude oil and refined petroleum product prices actually fell — petrol by 2.52%, diesel by 4.12%, and LPG by 2.69%.

However, COMAC stressed that the local currency depreciation has offset these declines, making domestic price increases unavoidable.