Multiple Oil Marketing Companies (OMCs) have increased the prices of petroleum products at their respective service stations across the country.
Allied Oil was the first to increase prices on October 16, 2024, selling a liter of petrol at GH₵12.73 and diesel at GH₵13.73. This marks a slight increase compared to the prices reported on October 1, 2024.
Shell has also increased their prices, with a liter of petrol now selling at GH₵14.72, reflecting a 7 percent increase from the initial pricing window in October 2024. Diesel has also seen a 4.45 percent increase, now selling at GH₵14.99 per liter.
On Thursday, October 17, 2024, market leader Goil followed suit by increasing the price of petrol by 7.89 percent, now selling at GH₵14.49. Diesel is now priced at GH₵14.90, representing over a 4 percent increase from earlier prices on October 9, 2024.
Star Oil, the second largest oil marketing company, has also adjusted its prices, selling a liter of petrol at GH₵13.99, which is over a 7 percent increase from its previous price. Diesel has also risen by 3.42 percent, now priced at GH₵14.19.
It is expected that more OMCs will review their prices shortly due to the impact of rising crude oil prices on the international market and challenges with the cedi, which have contributed to these price adjustments.
Energy Expert Benjamin Nsiah expects prices to remain stable or experience a marginal decrease next month.
