BY Issah Olegor
Consumers in Ghana are bracing for another increase in the cost of petroleum products as the state-owned oil marketing company, GOIL, has announced new pump prices effective 6:00 a.m. on Tuesday, 23 September 2025.
According to the revised pricing structure, Super XP will now sell at GH¢13.38 per litre, Diesel XP at GH¢14.20 per litre, and the premium grade Super XP 95 at GH¢15.25 per litre.
The announcement was made through GOIL’s official communication channels under its slogan, “Good Energy, Proudly Ghanaian.”
Rising Prices, Growing Concerns
This latest adjustment adds to a string of fuel price hikes in 2025, a trend that has drawn mounting public concern over the cost of living.
Transport operators, industrial players, and ordinary motorists are expected to feel the immediate impact as fuel costs directly affect transportation fares, food prices, and general inflation.
Ghana has long operated under a deregulated petroleum pricing regime, introduced in 2015, which allows oil marketing companies (OMCs) to adjust their prices every two weeks based on global crude oil trends, foreign exchange fluctuations, and taxes or levies imposed locally.
This policy was designed to make pricing more transparent but has left consumers vulnerable to global shocks.
Historical Context
In recent years, the petroleum sector has been at the center of Ghana’s economic challenges.
The depreciation of the cedi, coupled with volatility in global oil prices, has kept fuel costs on an upward trajectory.
In September 2022, for instance, petrol and diesel crossed the GH¢10 mark for the first time in Ghana’s history.
By late 2023 and 2024, pump prices had peaked at over GH¢15 per litre during some review windows, sparking protests from transport unions and civil society groups.
Though prices dipped slightly in early 2025 due to temporary stability in the exchange rate, the upward trend has resumed, raising fears that inflationary pressures may worsen.
The current International Monetary Fund (IMF) programme also requires strict fiscal measures, which some experts believe limit the government’s ability to cushion consumers through subsidies.
