Ghana recorded a significant increase in fuel consumption in January 2025, with diesel and petrol usage rising sharply, while demand for Liquefied Petroleum Gas (LPG) declined.

According to market data from the Chamber of Oil Marketing Companies (COMAC), diesel consumption surged by 32%, while petrol usage increased by 28% compared to the same period in 2024. The rise in demand is attributed to heightened commercial transport activities, increased industrial usage, and a generally expanding economy. Growth in the construction, mining, and logistics sectors, which depend heavily on diesel-powered machinery, further contributed to the surge. Similarly, an increase in vehicle ownership and road transport operations fueled the rise in petrol consumption.

Despite the strong performance of diesel and petrol, LPG consumption dropped by 1.46%, signaling a shift in consumer demand.

Star Oil led petrol sales with 16.66% of the market share, followed by Goil PLC at 13.70%. Other notable players, including Vivo Energy, TotalEnergies, and Zen Petroleum, also maintained significant market positions. The diesel market was similarly dominated by Star Oil and Goil PLC, with 13.17% and 10.56% shares, respectively, while Vivo Energy, Yass Petroleum and TotalEnergies followed closely.

The total national consumption of petroleum products increased in January 2025 compared to the same period in 2024, with the top 25 fuel marketers accounting for 79.87% of total market share. The second quartile contributed 14.44%, while the third and fourth quartiles made up 4.23% and 1.5%, respectively.

In the mining and industrial sectors, Goil PLC continued to dominate gasoil consumption, holding an 82.55% market share, with Power Fuel D. and Henos Energy following with 9.76% and 4.39%, respectively.

With fuel prices declining for the third consecutive pricing window, it is expected the upward trend in fuel demand will continue barring any supply disruptions.