The Chamber of Oil Marketing Companies (COMAC) has announced that fuel prices at the pump will rise beginning July 1, 2025, ending a seven-month period of steady declines.
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According to COMAC’s latest projections:
- Petrol will go up by 2%
- Diesel will increase by 5%
- LPG will see a modest 1% hike
This marks the first price increase since February 2025.
Speaking to 3 Business, COMAC CEO Dr. Riverson Oppong explained that the expected increases are based on multiple factors, including assessments by the National Petroleum Authority (NPA).
“Even before the now-suspended Energy Sector Levy was due for implementation, our projections already indicated upward pressure on pump prices,” Dr. Oppong said.
He attributed the price adjustments to:
- Rising global oil prices
- Ongoing exchange rate depreciation
- Increasing operational costs in Ghana’s downstream petroleum sector
In addition to pricing updates, COMAC raised concerns about the government’s subsidy on Marine Gas Oil, which is meant for maritime use. Dr. Oppong warned that the subsidy is being abused, with operators diverting subsidized fuel into the commercial diesel market, causing revenue losses for the state.
“The loophole is being exploited, costing the state significant revenue. We urge the government to scrap the Marine Gas Oil subsidy to curb this abuse,” he emphasized.
COMAC is also calling for a comprehensive review of downstream petroleum regulations. The Chamber says reforms are needed to promote efficiency, transparency, and cost-effective operations across the sector.
