Fuel prices in Ghana have surged again, with petrol now priced at GH¢13.38 per litre and diesel at GH¢14.20. This increase, initiated by GOIL, one of the country’s leading Oil Marketing Companies, follows a brief period of stability in the sector. Just a few weeks earlier, on September 2, 2025, petrol was selling for GH¢12.99 and diesel for GH¢13.90.
The adjustment comes in response to earlier forecasts from the Chamber of Oil Marketing Companies (COMAC), which had anticipated a 6% rise in fuel prices around mid-September. While other oil marketing companies have not yet changed their prices, industry analysts are monitoring the situation closely as GOIL’s actions may prompt similar changes across the over 200 companies in the country.
The primary driver behind this price hike is the continued depreciation of the Ghanaian cedi against the US dollar, which fell from GH¢11.20 to GH¢12.07—a drop of 7.76% that has contributed to a total yearly loss of 14.02%. COMAC attributes this decline to increased dollar demand, particularly as importers gear up for the festive season.
Despite a decrease in global prices for crude oil and refined products, the weakening cedi has made it impossible to maintain stable local prices. COMAC had projected that petrol could rise to approximately GH¢14.17 per litre, diesel to GH¢14.67, and LPG to GH¢14 per kilogram. As GOIL sets the trend, consumers should prepare for potential further adjustments in the near future.