Fuel Price Hikes: Petroleum prices to witness slight uptick from today, October 1
The prices of petroleum products at pumps are expected to witness a slight upward adjustment from today, October 1, the Chamber of Oil Marketing Companies (COMAC) has revealed.
In its latest industry outlook report, COMAC indicated that petrol prices may see an upward adjustment of up to 2.47% per litre, resulting in a new pump price of approximately GHC 14.52 per litre. Diesel prices are anticipated to rise between 1.36% and 3.41%, potentially reaching GHS 15.17 per litre. Liquefied Petroleum Gas (LPG) could also see a price hike of about 2.01% to 4.01%, as reported by Joy Business.
The projected adjustments are primarily driven by rising international product prices and the recent slip in the Cedi’s performance against other major foreign currencies. COMAC highlighted that during the review period, the Cedi has recorded a 2.74% drop in value against the US dollar, falling from GHS 12.07 to GHS 12.40 per dollar. This depreciation brings the total loss for the third quarter of 2025 to 15.09%.
The Chamber attributed the depreciation to a limited supply of foreign exchange, worsened by the pressures of increased imports as the economy continues to rely heavily on imports.
On the international crude oil market, prices have seen a slight1.57% increase, up from $67.39 to $68.45 per barrel. Forecasts indicate that Brent crude could rebound close to $70 per barrel due to growing geopolitical tensions and renewed concerns about supply.
Several major oil marketing companies, including GOIL, Shell, and Market Star Oil, have already raised their pump prices since September 23, 2025. Some representatives from these companies told Joy Business that they felt compelled to adjust their prices in response to the recent pressures on the cedi.
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