Ghanaian consumers will see a slight increase in fuel prices at the pumps starting today, April 2, 2025. Petrol and diesel prices are set to rise due to increasing global crude oil prices. However, not all Oil Marketing Companies (OMCs) will adjust their rates, as competition in the market forces some to hold prices steady to retain customers.
Petrol prices are expected to increase by 2%, bringing the cost per liter to GHC 15.20, while diesel prices will see a 1.1% rise to GHC 15.35 per liter. In contrast, Liquefied Petroleum Gas (LPG) is set for a slight reduction of 0.3%, selling at GHC 17.30 per kilogram.
The primary reason for this increase is the rising cost of crude oil on the international market, driven by supply disruptions linked to U.S. sanctions on major oil-producing nations. Despite these challenges, the Ghanaian cedi has remained relatively stable against the US dollar, meaning the price hike is not due to currency depreciation, which has often been a factor in past fuel price adjustments.
Interestingly, while some OMCs are set to increase their prices, others have indicated that they will maintain current rates. This is due to concerns over reduced consumer demand whenever prices rise. The mixed response from OMCs means that while some fuel stations will reflect the new prices, others may wait before making any changes.
