GOIL, Ghana’s second-largest oil marketing company (OMC), has increased fuel prices at the pumps, becoming the first major player to adjust rates after weeks of stability.
Petrol is now selling at GH¢13.38 per litre, up from GH¢12.99 earlier this month, while diesel has risen to GH¢14.20 from GH¢13.90.
The hike comes even as Brent crude futures slipped to $66.3 a barrel on Tuesday, their lowest in five sessions, pressured by expectations of rising supplies from Iraq.
Industry players say GOIL’s decision could set the tone for more than 200 OMCs nationwide, many of which have held prices unchanged despite earlier forecasts of a 6% jump in mid-September.
The Chamber of Oil Marketing Companies (COMAC) had projected petrol could climb to about GH¢14.17 per litre, diesel to GH¢14.67, and liquefied petroleum gas (LPG) to nearly GH¢14 per kilogram.
Global oil markets remain under pressure as Iraq prepares to resume exports through Kurdistan after a two-year halt, potentially adding 230,000 barrels per day. The country has also ramped up exports under the OPEC+ deal, with September shipments expected between 3.4 million and 3.45 million bpd.
Despite GOIL’s adjustments, several other major players are still holding steady. Star Oil is keeping petrol at GH¢12.77 and diesel at GH¢13.45, while TotalEnergies is selling petrol at GH¢12.88, diesel at GH¢14.30, and premium at GH¢16.67.
Shell is maintaining petrol at GH¢12.89 per litre, diesel at GH¢13.89, and premium at GH¢14.99, whereas Petrosol has petrol at GH¢12.98 and diesel at GH¢14.18. Puma Energy is also steady, with petrol priced at GH¢13.35 and diesel at GH¢13.75.
