Diesel has also risen from GH¢16.97 to GH¢17.77 per litre, a 4.71% increase.
The report indicates that oil Marketing Companies (OMCs) have begun increasing pump prices for the second pricing window of September.
It further notes that star Oil is among the first to adjust its prices, raising the price of petrol from GH¢15.17 to GH¢16.77 per litre.
The new price, effective Wednesday, September 16, represents an increase of more than 6%.
Diesel has also risen from GH¢16.97 to GH¢17.77 per litre, a 4.71% increase.
In a social media post, Star Oil attributed the adjustment to higher international petroleum product prices and a slight depreciation of the Ghana cedi.
Joy Business understands that more OMCs are expected to review their prices today, although some companies say they will continue monitoring competition before making adjustments.
The Group Chief Executive of GOIL, Edward Bawa, recently told Joy Business that the company would not rush to increase pump prices when the second pricing window opened on September 16.
He stated consumers would remain at the centre of any decision on fuel prices.
Mr Bawa stated GOIL was “studying the latest developments and assessing different scenarios before deciding on its next pricing move.”
“That in as much as we need to at least cover our costs, we need to ensure that our actions also go to ameliorate, what do you call it, the effects of increases in prices for them,” he said.
According to him, the company’s decision will depend on the latest market figures and the strategy it adopts to manage prevailing conditions.
Ghana currently has more than 200 OMCs, but indications suggest that only some may increase prices immediately, with others expected to adjust later in the week.
The latest increases could also renew pressure from the Ghana Private Road Transport Union (GPRTU) for higher transport fares, amid concerns over rising operational costs.
The Chamber of Oil Marketing Companies (COMAC) attributed the latest increases to rising prices of crude oil and refined petroleum products on the international market, as well as pressure on the cedi.
