Fuel Prices: Star Oil holds petrol at GH¢14.97, raises diesel to GH¢16.97

Fuel prices in Ghana saw adjustments starting September 1, 2026, with Star Oil maintaining petrol prices at GH¢14.97 per litre, while raising diesel from GH¢16.47 to GH¢16.97 per litre. Other Oil Marketing Companies (OMCs) are expected to follow suit as they review prices throughout the day. Approximately 200 OMCs operate in Ghana, each with distinct strategies for the market shifts.

The Chamber of Oil Marketing Companies (COMAC) linked the price changes to the surge in crude oil prices and global petroleum product costs. Crude oil prices surged by 1.75%, reaching US$92.11 per barrel, while finished petroleum products experienced hikes. Specifically, petrol prices increased by 8.86%, diesel by 5.51%, and LPG rose by 3.31%.

COMAC noted these increases, even after the cedi strengthened against the US dollar. The cedi appreciated by 3.64% to GH¢11.3697 per dollar, marking its strongest level since June 2026. Despite the stronger cedi, the rise in international crude and refined product prices is anticipated to push fuel prices upwards.

There is a government subsidy cushioning consumers against the rising fuel costs. A government source revealed that the government has maintained a GH¢2-per-litre reduction in the regulatory margin on diesel for the first pricing window of September. This intervention aims to alleviate the impact of escalating international fuel prices on consumers.