Fuel Prices Increase in First Pricing Window of July

Several oil marketing companies (OMCs) in Ghana have begun adjusting fuel prices upwards with the start of the first pricing window in July. This increase is attributed to rising costs of refined petroleum products on the international market and the depreciation of the Cedi, according to energy think tanks such as the Chamber of Petroleum Consumers and the Institute for Energy Security.

Among the companies adjusting their prices, Star Oil has raised its prices, now selling petrol at GH₵13.83 per litre, up from GH₵13.66 in the second pricing window of June, and diesel at GH₵14.79 per litre, up from GH₵13.97.

Shell has also increased its prices, with petrol now at GH₵14.80 per litre and diesel at GH₵14.92 per litre, compared to GH₵14.60 and GH₵14.75 respectively in the second pricing window of June.

Major market leaders, such as state-owned GOIL and Total Energies, have announced price increments as well. GOIL is selling petrol at GH₵14.80 per litre and Diesel XP at GH₵14.92 per litre. Total Energies has increased its petrol price to GH₵14.85 per litre and diesel to GH₵14.95 per litre, up from GH₵14.65 in the previous pricing windows.

These adjustments reflect the ongoing challenges in the global petroleum market and the local currency’s depreciation, impacting fuel prices and the cost of living for consumers in Ghana.