Fuel Prices Rise as OMCs Adjust Pump Rates in First June Pricing Window

Some Oil Marketing Companies (OMCs) in Ghana have begun increasing fuel prices at the pump as the first pricing window for June takes effect.

The adjustments are being driven by rising global petroleum product prices and the recent depreciation of the Ghana cedi, both of which are putting upward pressure on fuel import and retail costs.

Star Oil is among the first to revise its prices, raising petrol to the National Petroleum Authority’s approved floor price of GH¢15.20 per litre from GH¢14.60, representing a 60-pesewa increase or about 4.1 percent. Its Ron 95 petrol also moved up slightly from GH¢15.49 to GH¢15.77 per litre, while diesel prices remained unchanged at GH¢15.81.

At GOIL stations, petrol prices have similarly risen to GH¢15.20 per litre from GH¢14.60, marking a 4.1 percent increase. Diesel XP, however, saw a slight drop from GH¢16.66 to GH¢16.50 per litre.

Retail outlets of Shell and TotalEnergies are also reflecting increases. Petrol at both outlets has risen from GH¢14.99 to GH¢15.60 per litre, while diesel prices have remained stable or seen marginal adjustments around GH¢16.99 per litre.

The price changes reflect trends on the international oil market, where refined petroleum products have become more expensive. In addition, the weakening of the cedi against major foreign currencies has further increased import costs for fuel importers and distributors.

The National Petroleum Authority (NPA) has set new indicative price floors for the first June pricing window at GH¢15.20 per litre for petrol, GH¢15.49 for diesel, and GH¢13.48 per kilogram for LPG.

More price reviews are expected in the coming days as OMCs continue to adjust to market conditions, especially among stations currently selling below the regulated price thresholds.