Some Oil Marketing Companies (OMCs) have begun revising fuel prices in line with industry projections for September.

At Goil, petrol is now selling at GH¢12.90 per litre, up slightly from GH¢12.88, while diesel has dropped from GH¢14.30 to GH¢13.90.

Shell, on the other hand, has increased petrol prices significantly to GH¢13.59 per litre from the previous GH¢12.89.

Market leader Star Oil has announced that it will maintain its current prices until September 15, 2025.

Its pumps are selling petrol at GH¢12.77 per litre and diesel at GH¢13.35.

The Chamber of Oil Marketing Companies (COMC) had earlier projected price hikes across petroleum products from September 1, citing exchange rate pressures.

Petrol was expected to rise between 3.86% and 5.40% per litre, with a possible ceiling of GH¢13.67.

Diesel was projected to climb by 3.39% to about GH¢14.35 per litre, while LPG was forecast to increase by 4.57% per kilogram.

According to the Chamber, the main factor driving the upward adjustments is the Ghana cedi’s depreciation against the US dollar.

The local currency slid from GH¢10.71 to GH¢11.20 in the past month, a 3.98% decline described as the sharpest so far this year.

This comes despite a drop in international market prices for petroleum products: petrol fell by 0.45%, diesel by 3.73%, and LPG by 1.73%.

Some industry stakeholders have also pointed to the recent one-cedi levy on petroleum products as a contributing factor.

The Chamber noted that supply shortfalls, particularly for petrol, have compounded pricing pressures.