Market leader GOIL has kept petrol and diesel prices unchanged despite industry projections of an increase in fuel prices for the latest pricing window.

Based on price quotes published on GOIL’s social media platforms on Wednesday, September 2, petrol remains at GH¢15.43 per litre, while diesel is selling at GH¢17.26 per litre.

It is not immediately clear what influenced GOIL’s decision to maintain its prices.

The decision comes at a time when rising international crude oil and refined petroleum product prices are expected to put upward pressure on pump prices.

It also remains unclear whether competition in the downstream petroleum market or efforts by government to prevent an increase in transport fares influenced GOIL’s decision.

The move by the market leader could have implications for other Oil Marketing Companies (OMCs) yet to review their prices.

OMCs Prepare to Review Prices

Several OMCs have told JOYBUSINESS they are expected to review their prices on Wednesday, September 2.

Some transport unions have also warned of possible fare increases depending on how OMCs adjust their prices this week.

GOIL’s current prices remain above the latest price floor announced by the National Petroleum Authority (NPA).

Under the NPA’s price floor, OMCs should not sell petrol below GH¢14.53 per litre and diesel below GH¢15.60.

Market Projection

Before the start of the latest pricing window, several industry players and think tanks had projected an increase in fuel prices.

The Chamber of Oil Marketing Companies (COMAC) attributed the expected adjustments to higher crude oil prices and increases in the prices of finished petroleum products on the international market.

According to COMAC, crude oil prices increased by 1.75%, from US$90.53 per barrel to US$92.11 per barrel.

Finished petroleum products also recorded increases, with petrol rising by 8.86%, diesel by 5.51% and LPG by 3.31%.

COMAC said the increases occurred despite the cedi's appreciation against the US dollar.

The cedi appreciated by 3.64% to GH¢11.3697 to the dollar, based on average bank rates between August 12 and 27, 2026.

The appreciation reversed three consecutive depreciation windows and brought the cedi to its strongest level since June 2026.

Despite the stronger cedi, higher international crude and refined product prices are expected to continue putting pressure on fuel prices.