Ghanaians should brace for another hike in fuel prices as the Chamber of Oil Marketing Companies (COMAC) projects an increase of up to 10% during the upcoming pricing window starting July 16, 2025.
Speaking on TV3’s Business Focus, COMAC CEO Dr. Riverson Oppong revealed that petrol prices are expected to rise by 7% to 8%, while diesel could see a 10% surge.
He noted that the increase is projected even without factoring in the newly introduced GHS1 energy sector levy.
“We are expecting roughly 8 to 10% increase in fuel prices,” Dr. Oppong said. “This is driven by global crude price fluctuations, the cedi’s depreciation, and operational costs.”
The price adjustment coincides with the implementation of the controversial GHS1 levy, introduced by government to help settle legacy debts in Ghana’s energy sector. The IMF has projected that the country’s energy sector shortfall could reach $2.2 billion by December 2025.
Benjamin Nsiah, Executive Director of the Centre for Environmental Management and Sustainable Energy (CEMSE), also raised concerns.
He warned that if pump prices exceed GHS15 per litre, it would undermine the justification behind the GHS1 levy, which was introduced when prices dipped to GHS12.
This latest projection follows COMAC’s earlier forecast on June 30, which anticipated modest hikes of 2% for petrol, 5% for diesel, and 1% for LPG, marking the first fuel price increases since February 2025.
Dr. Oppong emphasized that COMAC’s forecasts are based on comprehensive data, including the National Petroleum Authority’s (NPA) price build-up model, and reflect broader global and domestic economic pressures.
