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

Some Oil Marketing Companies (OMCs) have begun reviewing fuel prices at the pumps from Tuesday, September 1, 2026, with Star Oil leading the latest adjustments.

Star Oil has maintained the price of petrol at GH¢14.97 per litre. However, the company has increased the price of diesel from GH¢16.47 to GH¢16.97 per litre.

JOY BUSINESS understands that other OMCs are expected to review their prices during the day.

While some companies are preparing to adjust prices, others are monitoring competition before making a decision.

There are more than 200 OMCs operating in Ghana, with companies expected to take different approaches to the latest market developments.

Reasons

The Chamber of Oil Marketing Companies (COMAC) attributed the expected price adjustments to rising crude oil prices and higher prices of finished petroleum products on the international market.

According to COMAC, crude oil prices increased by 1.75%, from US$90.53 per barrel to US$92.11 per barrel.

Finished petroleum products also recorded increases. Petrol prices rose by 8.86%, diesel by 5.51% and LPG by 3.31%.

COMAC said the increases came despite the cedi’s appreciation against the US dollar.

The cedi appreciated by 3.64% to GH¢11.3697 to the dollar, based on average bank rates between August 12 and 27, 2026.

The appreciation reversed three consecutive depreciation windows and reached the cedi’s strongest level since June 2026.

Despite the stronger cedi, rising international crude and refined product prices are expected to put upward pressure on fuel prices.

Government Subsidy

JOY BUSINESS checks indicate that diesel prices could have been higher without government intervention.

A government source told JOY BUSINESS that the government has extended its GH¢2-per-litre reduction in the regulatory margin on diesel into the first pricing window of September.

The intervention is intended to cushion consumers against the impact of rising international fuel prices.