More Oil Marketing Companies (OMCs) have increased fuel prices at the pumps as of this morning, September 30, 2025, marking yet another adjustment in the second pricing window of the month.
The hikes come nearly two weeks after industry projections warned of an upward review, driven mainly by the sharp depreciation of the Ghana cedi against the US dollar.
Market Leader Star Oil announced on social media that a litre of petrol will now sell at GH¢13.17, up from GH¢12.77 on September 1. Diesel, however, remains unchanged at GH¢13.45 per litre.
The company attributed the new rates to international market dynamics and the weak exchange rate, assuring customers: “As soon as market conditions improve, we will pass on any benefits to you as usual.”
Shell Ghana also adjusted its prices over the weekend. Diesel now sells at GH¢14.18 per litre, while petrol, which had risen to GH¢13.59 earlier this month, has been slightly reduced to GH¢13.44.
Meanwhile, some OMCs say they will delay price increases until October 2, citing intense competition in the market.
Background
On September 23, GOIL, Ghana’s second-largest OMC, raised petrol prices to GH¢13.38 from GH¢12.99, and diesel to GH¢14.20 from GH¢13.90. GOIL was the first major player to adjust prices after most OMCs held them stable despite forecasts of a 6% per-litre hike from September 16.
Why Prices Are Rising
The Chamber of Oil Marketing Companies (COMAC) attributes the hikes largely to the cedi’s depreciation, which fell by 7.76% during the review period — sliding from GH¢11.20 to GH¢12.07 per US dollar. Bloomberg data shows the cedi has lost 14.02% year-to-date, ranking among the steepest global declines.
Although international crude oil and refined product prices actually dropped — petrol by 2.52%, diesel by 4.12%, and LPG by 2.69% — COMAC explained that the local currency’s weakness has offset these gains, making upward adjustments at the pumps unavoidable.
Analysts warn that unless the cedi stabilises, further increases could follow in October, heightening the burden on transport operators and consumers.
Source – My News Ghana
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