OMCs increase fuel prices; Star Oil sells petrol at GH¢14.53 and diesel GH¢18.77

Star Oil increased fuel prices at the pumps on August 1, 2026. The company increased petrol to GH¢14.53 from GH¢14.47, and diesel from GH¢17.67 to GH¢18.77. This action aligns with industry projections and the bi-weekly fuel price review mechanism under the petroleum price deregulation policy. Star Oil's petrol prices matched the price floor set by the National Petroleum Authority.

Since July 15, 2026, Star Oil has reviewed petroleum prices at the pumps three times. Philip Tieku, Chief Executive of Star Oil, explained in a Facebook post on July 24, 2026, that international prices have risen sharply, with "World market prices of gasoline have increased by nearly 20%, while diesel prices have risen by approximately 25%". The Ghana cedi has also depreciated against the US dollar over the same period. Mr. Tieku stated that most OMCs are increasing prices before August 1st because they purchase petroleum products on a daily cash-and-carry basis, pricing new stock with prevailing international petroleum prices and the current exchange rate to prevent arbitrage opportunities. More OMCs are expected to review prices on August 2, 2026, with others adjusting on Monday, August 3, 2026.