Leading the charge is GOIL, one of the major players in the downstream petroleum sector, which has raised the price of a litre of petrol from GH₵12.07 to GH₵12.88. Diesel prices at GOIL have also seen a significant jump, now selling at GH₵14.38 from the previous GH₵13.20.
Market leader Star Oil has followed suit, pricing a litre of petrol at GH₵12.59. However, some of its stations are offering a slightly lower rate of GH₵11.99. Diesel at Star Oil stations is now being sold at GH₵13.99, with a few outlets pricing it at GH₵13.79.
Other oil marketing firms are expected to adjust their prices throughout the day.
Why the Sudden Price Surge?
According to industry players, the primary driver behind the upward adjustment is the newly implemented GH₵1 fuel levy on petrol and diesel, which took effect today, July 16, 2025. Most companies say this policy has directly impacted pump prices.
Dr. Riverson Oppong, Chief Executive of the Chamber of Oil Marketing Companies, disclosed that prices would have dropped by nearly 2% had the levy not been introduced. “Without the levy, market conditions were favouring a slight reduction. Unfortunately, that opportunity has been eroded,” he noted.
Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), emphasized the need for government to reassess the heavy tax burdens embedded in fuel pricing. He argued that trimming some of the existing taxes could cushion consumers, even as the state proceeds with the GH₵1 levy rollout.
Fuel consumers across the country are now bracing for the ripple effects of the price hike, which is expected to impact transport fares, goods, and services in the coming days.
fuel price hike Ghana July 2025
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