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The Chamber of Oil Marketing Companies (COMAC) has announced a significant increase in petroleum product prices, effective September 1, 2025. The price hike is attributed to the depreciation of the Ghanaian cedi against the US dollar and recurring shortfalls in the supply of finished petroleum products.
The price of petrol is expected to increase by 3.86-5.40% per litre, resulting in a price of around GHS 13.67 per litre. Diesel prices could increase by 3.39% per litre, bringing the price to approximately GHS 14.35 per litre. Liquefied Petroleum Gas (LPG) is expected to climb by up to 4.57% per kilogram.
The cedi has depreciated by 3.98% against the US dollar over the past month, from GHS 10.71 to GHS 11.20. This significant depreciation has contributed to the price increase. Recurring shortfalls in the supply of finished petroleum products, particularly petrol, have also driven up prices. Some oil marketing companies increased their prices mid-August despite no scheduled price changes.
Although international petroleum prices have dropped, with petrol down by 0.45%, diesel by 3.73%, and LPG by 1.73%, the cedi’s depreciation has outweighed these global price movements. The price hike is likely to affect consumers’ purchasing power and increase the cost of living.
