A fuel station
Additional Oil Marketing Companies (OMCs) have raised fuel prices at the pumps today, September 30, 2025.
This occurred just under two weeks after prices were anticipated to rise from mid-September, in accordance with industry statistics.
The market leader, Star Oil, shared on social media that the price of a liter of gasoline has increased to GH¢13.17, compared to the previous rate of GH¢12.77 as of September 1.
The organization stated that the change was affected by events in the global market and currency exchange rates, and mentioned, “Once market conditions get better, we will share any advantages with you as usual.”
Nevertheless, Star Oil kept the diesel price at GH¢13.45 per liter.
Another key company, Shell, also modified its pricing during the weekend. Diesel is now being sold at GHC14.18 per liter, whereas petrol, which had increased to GH¢13.59 on September 2, has seen a small decrease to GH¢13.44.
In the meantime, certain OMCs indicate they might hold off on raising prices until October 2, stating that competition is the reason for maintaining current rates during the second pricing period for September.
On September 23, 2025, GOIL, the second-biggest company in the sector, increased the cost of gasoline to GH¢13.38, up from GH¢12.99 on September 2.
Diesel also rose to GH¢14.20 per liter from GH¢13.90.
GOIL was the initial company to modify its prices, whereas most OMCs had maintained their rates unchanged for nearly a week, even though forecasts indicated a potential 6% increase per liter starting September 16.
Reasons
As per the Chamber of Oil Marketing Companies (COMAC), the rises are mainly attributed to the decline of the Ghanaian cedi relative to the US dollar.
The cedi declined from GH¢11.20 to GH¢12.07 over the review period — a decrease of 7.76% — resulting in a year-to-date loss of 14.02%, among the largest in the world, as reported by Bloomberg.
“The drop is mainly because of high demand for the dollar to purchase imports before the holiday season,” COMAC stated.
Crude oil and refined product prices fell on the international market — gasoline decreased by 2.52%, diesel by 4.12%, and LPG by 2.69%.
Nevertheless, COMAC emphasized that the devaluation of the cedi has counterbalanced these drops, leading to inevitable rises in local prices.
A Business Desk Reporter
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