Fuel prices Hike

Motorists across Ghana are beginning to experience a fresh increase in fuel prices as several Oil Marketing Companies (OMCs) implement new pump prices under the latest petroleum pricing window.

Star Oil was among the first major OMCs to revise its prices on Saturday, August 1, 2026. The company increased the price of petrol from GH¢14.47 to GH¢14.53 per litre, while diesel recorded a steeper rise from GH¢17.67 to GH¢18.77 per litre. The new petrol price is in line with the National Petroleum Authority’s (NPA) approved price floor for the current pricing period.

The latest adjustment is Star Oil’s third fuel price review since July 15, reflecting the continued impact of rising global crude oil prices and fluctuations in the foreign exchange market.

In a Facebook post on July 24, 2026, Star Oil Chief Executive Officer, Philip Tieku, explained that international petroleum prices have risen significantly since the start of the current pricing window. He said global gasoline prices have increased by nearly 20 percent, while diesel prices have surged by about 25 percent.

Mr. Tieku also attributed the price hikes to the depreciation of the Ghana cedi against the US dollar, which has increased the cost of importing petroleum products.

He further explained that many OMCs have begun adjusting pump prices ahead of the official pricing window because they procure fuel on a cash-and-carry basis, purchasing new stock at prevailing international market prices and current exchange rates.

Industry players expect more OMCs to revise their pump prices in the coming days. While some companies were expected to implement the new prices on August 2, others have indicated that their adjustments will take effect from Monday, August 3, 2026, potentially leading to higher fuel costs for consumers nationwide.