Some Oil Marketing Companies (OMCs) are set to increase the prices of petroleum products at their respective fuel pumps starting April 2, 2025.

However, others are reluctant to do so due to consumer demand and market dynamics.

Because price fluctuations affect demand, some OMCs may hold onto current rates to retain customers.

According to the latest Pricing Outlook Report, quoted by JoyBusiness, petroleum product prices are expected to see marginal increases at the pumps starting today, April 2, 2025, as the first pricing window of the month begins.

Petrol prices are projected to rise by 2%, bringing the price per liter to GH¢15.20, while diesel will increase by 1.1% to GH¢15.35 per liter.

Liquefied Petroleum Gas (LPG), on the other hand, is expected to drop marginally by 0.3%, with a kilogram selling at GH¢17.30.

The price increase is partly due to the rise in crude oil prices on the international market.

Crude oil is currently trading at around $74 per barrel.

Industry players acknowledge that each time prices rise, demand drops, leading some OMCs to adopt a wait-and-see approach before making price adjustments.

SSD/MA

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