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Fuel prices are set to rise at retail stations starting July 1, 2025, according to projections from the Chamber of Oil Marketing Companies (COMAC). These adjustments come after a period of price stability since February of the same year.
COMAC’s analysis indicates petrol will increase by approximately 2%, while diesel is expected to see a more significant 5% uptick. Liquefied Petroleum Gas (LPG) isn’t exempt either, with a projected 1% price rise. Dr. Riverson Oppong, Chief Executive of COMAC, made these announcements during a press briefing in Accra.
He emphasized that these increases are anticipated even before the now-suspended amendment to the Energy Sector Levy takes effect. All relevant factors, including the NPA’s price build-up mechanisms, have been considered in these forecasts.
Additionally, the Chamber is urging a review of regulatory frameworks within the petroleum downstream sector, highlighting the need for more cost-efficient operations moving forward.