Fuel Prices Set to Increase from July 1 – COMAC Projects
Consumers should brace for a rise in fuel prices beginning Tuesday, July 1, 2025, as new projections by the Chamber of Oil Marketing Companies (COMAC) suggest increases across major fuel types.
The expected price changes are as follows:
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Petrol: Up by 2%
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Diesel: Set to rise by 5%
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Liquefied Petroleum Gas (LPG): Likely to go up by 1%
This upcoming hike marks the first fuel price increase since February 2025.
COMAC Attributes Price Hike to Market Dynamics
At a press briefing held in Accra, Dr. Riverson Oppong, Chief Executive of COMAC, revealed that the rise is driven by various contributing factors, including international market conditions and price build-ups by the National Petroleum Authority (NPA).
“Even before the suspended Energy Sector Levy amendment takes effect, our data already points to a rise in pump prices,” Dr. Oppong stated.
He further explained:
“Petrol is projected to increase by 2%, LPG by slightly over 1%, and diesel could see a 5% jump, factoring in global benchmarks and regulatory price structures.”
COMAC Calls for Regulatory Review in Downstream Sector
In response to the evolving cost structures, COMAC is advocating for a comprehensive review of petroleum downstream regulations. The chamber argues that cost-effective operational models are urgently needed to cushion consumers and improve market efficiency.
Dr. Oppong emphasized the need for a policy overhaul to manage future pricing impacts better and stabilize the petroleum market.
Source: https://www.myjoyonline.com/fuel-prices-to-go-up-from-july-1-petrol-by-2-diesel-5-comac
