Fuel Prices Set to Rise in July: Petrol and Diesel Prices Set to Rise by 2% and 5% Today
Fuel prices at retail outlets across the country are expected to rise beginning today, July 1, 2025, according to fresh projections from the Chamber of Oil Marketing Companies (COMAC).
The Chamber anticipates that petrol will record a 2% increase, while diesel prices could surge by 5%. Liquefied Petroleum Gas (LPG) is also projected to see a marginal price hike of 1%. The expected price adjustments mark the first upward revision in fuel prices since February this year.
Addressing the media in Accra, Chief Executive of COMAC, Dr. Riverson Oppong, attributed the projected price increases to prevailing market fundamentals and regulatory pricing frameworks.
“Even before the implementation of the amended Energy Sector Levy, which has been suspended, our projections indicate that pump prices may be going up,” Dr. Oppong stated.
“I can say petrol is likely to go up by 2 percent, LPG may witness a little above 1 percent, and diesel will likely increase by 5 percent. This is after taking all factors into consideration, including NPA price build-ups,” he added.
The anticipated increment is influenced by international price movements, exchange rate volatilities, and adjustments within the National Petroleum Authority’s (NPA) price build-up mechanism.
COMAC is also urging a review of regulations governing the downstream petroleum sector. The Chamber believes a policy overhaul is necessary to promote cost-effective operations and enhance efficiency across the value chain.
The fuel price adjustment comes at a time when Ghanaian consumers are grappling with a high cost of living and general economic uncertainty.
