More Oil Marketing Companies (OMCs) have adjusted their fuel prices upwards at the pumps today, September 30, 2025, nearly two weeks after industry data signaled hikes from mid-September.
Market leader Star Oil announced in a social media update that petrol now sells at GH¢13.17 per litre, up from GH¢12.77 on September 1. Diesel, however, remains unchanged at GH¢13.45. The company attributed the increase to developments on the international market and the exchange rate, assuring customers that any future relief will be passed on once conditions improve.
Shell also revised its prices over the weekend. Diesel now goes for GH¢14.18 per litre, while petrol has been reduced slightly to GH¢13.44, after rising earlier this month to GH¢13.59.
Meanwhile, some OMCs say they may delay price adjustments until October 2, citing competition during the second pricing window of September.
Background
On September 23, 2025, GOIL, the country’s second-largest player, raised petrol prices to GH¢13.38 from GH¢12.99, while diesel climbed to GH¢14.20 from GH¢13.90. GOIL was the first to increase prices after most OMCs kept rates stable, despite projections of a 6% rise per litre from mid-September.
Why Prices Are Rising
The Chamber of Oil Marketing Companies (COMAC) attributes the hikes mainly to the depreciation of the Ghana cedi against the US dollar. The local currency fell from GH¢11.20 to GH¢12.07 during the review period — a 7.76% drop — pushing its year-to-date loss to 14.02%, among the steepest globally according to Bloomberg.
Although global prices of crude oil and refined products actually fell in the same period — petrol by 2.52%, diesel by 4.12%, and LPG by 2.69% — COMAC explained that the cedi’s depreciation wiped out those gains, making price increases on the local market inevitable.
Source: Joy Business
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