Ghana increases petrol, LPG prices

Fuel prices in Ghana are set to be adjusted during the country’s second pricing window this month, with liquefied petroleum gas (LPG) and petrol expected to increase and diesel set to drop slightly, according to Business Ghana.

Predictions revealed by the Chamber of Oil Marketing Companies (COMAC) showed that petrol prices at the pump would likely increase by between 0.39% and 2.71%. LPG was expected to rise by between 0.15% to 2.34%, and diesel was forecast to drop by between 0.21% to 0.72%.

The shifts in pricing have been attributed to differing trends in the pricing of petroleum products across the globe, a small depreciation of the Ghanaian cedi against the US dollar and various supply and demand dynamics within different product markets, according to COMAC.

“Following the slight dip in crude prices, diesel fell sharply by 5.22%, while petrol and LPG rose marginally by 1.89% and 2.87%, likely due to product-specific demand and supply factors,” the Chamber said in a statement in response to the changes.

“For 1st August 2025 pricing window (based on average exchange rates from 27th July to 12th Aug), the Ghanaian cedi experienced a slight depreciation against the US dollar. The rate shifted from GHS 10.68 to GHS 10.77, reflecting a 0.87% decline”.

According to Business Ghana, the review period saw Brent crude fall 0.23% from $70.42 to $70.26 per barrel due to increase production from OPEC+ and other non-OPEC affiliated producers. This change led to reduced speculative positions and a softer futures market.

Globally, August has seen diesel prices drop 5.22% with petrol and LPG increasing by 1.89% and 2.87% respectively.

The cedi also continued to weaken, dropping 0.87% from GHS 10.68 to GHS 10.77 per dollar, which has since mildly increased import costs.

COMAC continued to note that pump prices had broadly matched prevailing market trends – and that some additional price increases for petrol and LPG were likely.