Diesel hits GH¢13.90, petrol now GH¢12.99 at pumps

Some Oil Marketing Companies (OMCs) have started adjusting fuel prices in line with recent industry forecasts.

At GOIL, petrol now sells at GH¢12.90 per litre, a slight increase from GH¢12.88.

Diesel, however, has seen a notable drop down to GH¢13.90 from GH¢14.30.

Shell has also revised its prices upward, with petrol now at GH¢13.59 per litre, up from GH¢12.89.

In contrast, market leader Star Oil has opted to maintain its current prices until September 15, 2025.

The company is currently offering petrol at GH¢12.77 and diesel at GH¢13.35 per litre both among the lowest in the market.

The price changes come shortly after the Chamber of Oil Marketing Companies (COMC) projected a 3.86% to 5.40% increase in petrol prices starting September 1, with prices potentially rising to GH¢13.67 per litre.

LPG was expected to climb by 4.57% per kilogram, while diesel was forecast to increase by 3.39% to GH¢14.35 per litre.

According to the Chamber, the price hikes are largely driven by the cedi’s depreciation, falling from GH¢10.71 to GH¢11.20 against the US dollar in just one month, a 3.98% drop, the steepest this year.

Interestingly, global oil prices have been trending downward: petrol by 0.45%, diesel by 3.73%, and LPG by 1.73%.

However, the Chamber notes that the weaker cedi, recurring petrol supply challenges, and the recently introduced one-cedi levy on petroleum products are outweighing the global price dip.

Despite mixed reactions from industry players, most agree that until the cedi stabilizes and supply improves, local fuel prices will remain under upward pressure.

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