More Oil Marketing Companies (OMCs) have increased fuel prices at the pumps this morning, September 30, 2025.
This comes almost two weeks after prices were expected to go up from mid-September in line with industry data.
Market leader Star Oil, in a social media post, announced that a litre of petrol will now sell at GH¢13.17, up from the previous GH¢12.77 on September 1.
The company explained that the adjustment was influenced by developments on the international market and the exchange rate, adding: “As soon as market conditions improve, we will pass on any benefits to you as usual.”
Star Oil, however, maintained the price of diesel at GH¢13.45 per litre.
Shell, another major player, also adjusted its prices over the weekend. Diesel is now selling at GHC14.18 per litre, while petrol, which went up to GH¢13.59 on September 2, has been reduced slightly to GH¢13.44.
Meanwhile, some OMCs say they may not increase prices until October 2, citing competition as the reason for keeping prices unchanged during the second pricing window for September.
Background
On September 23, 2025, GOIL, the second-largest player in the industry, raised the price of petrol to GH¢13.38 from GH¢12.99 on September 2.
Diesel also increased to GH¢14.20 per litre from GH¢13.90.
GOIL was the first to adjust prices after most OMCs kept theirs stable for about a week, despite projections of a 6% rise per litre from September 16.
Reasons
According to the Chamber of Oil Marketing Companies (COMAC), the increases are largely due to the depreciation of the Ghana cedi against the US dollar.
The cedi fell from GH¢11.20 to GH¢12.07 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, prices of crude oil and refined products actually dropped — petrol by 2.52%, diesel by 4.12%, and LPG by 2.69%.
However, COMAC stressed that the cedi’s depreciation has offset these declines, making domestic price increases unavoidable.
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