Consumers should brace for another round of fuel price hikes beginning Monday, September 1, 2025, as the Chamber of Oil Marketing Companies (COMAC) projects significant increases across petroleum products.
The adjustment, which takes effect at the pumps, will affect petrol, diesel, and liquefied petroleum gas (LPG), raising concerns about its ripple effect on the cost of living and business operations.
According to COMAC’s latest outlook report, petrol prices are expected to rise between 3.86% and 5.40% per litre, pushing the pump price to around GHS 13.67 per litre. Diesel will also climb by approximately 3.39% per litre, potentially retailing at GHS 14.35 per litre.
Meanwhile, LPG users will see a price increase of up to 4.57% per kilogram, further tightening household budgets. “The anticipated increases are based on the combined effects of currency depreciation, supply constraints, and fiscal measures,” COMAC explained in its report.
Why Prices Are Rising
The Chamber cited the sharp depreciation of the Ghana cedi against the US dollar as the primary factor behind the new prices.
Over the past month, the exchange rate shifted from GHS 10.71 to GHS 11.20 per dollar, representing a 3.98% fall in value.
“This is the highest level of depreciation recorded since the beginning of the year, and it has heavily influenced petroleum product pricing.”
Chamber of Oil Marketing Companies (COMAC)
Surprisingly, the global oil market has trended downward in recent weeks. International crude benchmarks showed marginal reductions, with petrol dipping 0.45%, diesel 3.73%, and LPG 1.73%.
But COMAC stressed that the depreciation of the local currency had completely offset the relief that would have come from falling global prices.
In addition to exchange rate pressures, the Chamber pointed to recurring shortages of finished petroleum products, particularly petrol, which have rattled the market since mid-August.
“The recent shortfall in petrol supply forced some OMCs to adjust prices prematurely, even when international conditions did not warrant it.”
Chamber of Oil Marketing Companies (COMAC)
Industry insiders also pointed to the government’s new one-cedi levy on petroleum products as another factor contributing to the price jump.
Though marginal on paper, the levy compounds costs across the distribution chain and ultimately lands on consumers.
The expected hikes are set to hit both households and industries, particularly transport operators, manufacturers, and service providers that depend heavily on fuel.
COMAC Defends Market Realities
Despite public frustration, COMAC defended the pricing system, arguing that petroleum pricing in Ghana reflects global market dynamics and local macroeconomic realities.
“The cedi’s depreciation is beyond the control of OMCs. What we can assure consumers is that pricing remains transparent and reflective of real costs.
“It is important that government, regulators, and industry work together to address forex stability and ensure supply security.”
Chamber of Oil Marketing Companies (COMAC)
Economists warn that the upcoming increases could add more pressure to Ghana’s inflation outlook, which has already been driven by rising transport costs and utility bills.
“Global prices may be easing, but local fundamentals particularly currency depreciation and supply shortfalls continue to dictate the trajectory of petroleum product prices in Ghana.”
Chamber of Oil Marketing Companies (COMAC)
With the September 1 adjustment, Ghana joins a list of import-dependent economies grappling with volatile energy prices.
Analysts believe that unless the cedi stabilises and supply bottlenecks are resolved, consumers should prepare for further fluctuations in the coming months.
For now, the reality at the pump is unavoidable. From Monday, drivers will pay more for every litre of petrol and diesel, while households and small businesses relying on LPG will feel the pinch.
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