Fuel prices at the pumps have seen a sharp increase starting today, July 16, 2025, as several Oil Marketing Companies (OMCs) adjust their rates in response to new levies.
GOIL, one of the major players in the industry, has raised the price of petrol from GH₵12.07 to GH₵12.88 per litre. Diesel has also gone up significantly, jumping from GH₵13.20 to GH₵14.38 per litre.
Market leader Star Oil has followed suit, pricing petrol at GH₵12.59 per litre at most of its outlets. However, some of its service stations are offering it slightly lower at GH₵11.99. Diesel at Star Oil now sells for GH₵13.99 per litre, with selected stations offering it at GH₵13.79.
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Other OMCs are expected to revise their prices later in the day, according to updates provided to JOYBUSINESS.
What’s Driving the Price Hike?
The increase is largely attributed to the implementation of a new GH₵1.00 fuel levy applied to both petrol and diesel, which took effect today. According to Dr. Riverson Oppong, CEO of the Chamber of Oil Marketing Companies, prices would have actually decreased by around 2% had the new levy not been introduced.
Meanwhile, the Chamber of Petroleum Consumers (COPEC) is urging government to review the tax components in the pricing structure of petroleum products. The group argues that easing some of the tax burdens could bring much-needed relief to consumers already grappling with high living costs.
Story By: Afia Ohenewaa Akyerem