Some Oil Marketing Companies (OMCs) have begun increasing fuel prices at the pumps in line with projections for the first pricing window of October 2025.

On October 2, major player Shell adjusted its prices, selling a litre of diesel at GH¢14.18, up from GH¢13.89. Petrol, however, remained unchanged at GH¢13.44 per litre.

Another major OMC also raised prices by 2 per cent across all products. Others told Joy Business they will adjust their prices from October 3.

Projections

The Chamber of Oil Marketing Companies, in its outlook for October 1–15, projected marginal increases in petroleum products.

Petrol is expected to rise by up to 2.47% to about GH¢14.52 per litre, while diesel may increase between 1.36% and 3.41%, potentially hitting GH¢15.17. Liquefied Petroleum Gas (LPG) could also go up between 2.01% and 4.01%.

Reasons

The rise is driven by climbing international product prices and the continued seasonal depreciation of the cedi. The local currency weakened from GH¢12.07 to GH¢12.40 per dollar within the review period, a 2.74% drop.

This brings total losses in the third quarter of 2025 to 15.09%, with no gains recorded.

The depreciation is attributed to limited forex supply, while rising year-end imports add further pressure on Ghana’s import-dependent economy.

The Chamber also noted crude oil prices increased by 1.57%, moving from $67.39 to $68.45 per barrel.

Brent crude is forecast to rebound close to $70 per barrel on the back of heightened geopolitical risks and renewed supply concerns.