Motorists are likely to see higher prices at the pump starting Wednesday, with petrol and diesel expected to rise by as much as 9%, according to projections from the Chamber of Petroleum Consumers (COPEC).
In a market forecast released Tuesday, the advocacy group said it anticipates a 6.47% increase in petrol prices and a sharper 9.30% jump in diesel prices during the second pricing window of July. The average cost of petrol is projected to rise from GHS11.59 per litre, while diesel could move up from its current average of GHS12.97 per litre.
Liquefied Petroleum Gas (LPG), meanwhile, is expected to see a modest decline of 0.45% per kilogram.
COPEC attributed the projected hikes largely to the recent introduction of a GHS1 Energy Sector debt recovery levy, which has added to the cost structure of petroleum pricing in the country. The increase comes despite a 4.89% drop in international crude oil prices—from $74.43 to $70.79 per barrel—and a marginal depreciation of the Ghanaian cedi, which slipped 0.47% to GHS10.5785 per U.S. dollar.
The Chamber noted that its analysis assumes stable Free-On-Board (FOB) prices and no major swings in currency markets in the short term. However, it cautioned that actual pump prices may still vary by as much as 5% in either direction, depending on market dynamics and competitive pricing strategies.
The revised fuel prices are set to take effect nationwide on Wednesday, July 16, 2025.
