Some oil marketing companies (OMCs) have begun adjusting pump prices as the second pricing window for January opens today, following earlier projections by the Chamber of Oil Marketing Companies (COMAC) of an across-the-board decline in fuel prices.
State-owned GOIL has rolled out discounted prices at 150 selected stations nationwide. Under the promotion, Super XP (Petrol) is selling at GH¢9.99 per litre, compared with the regular price of GH¢10.99 from the first pricing window of January.
Diesel XP is also being offered at a discounted GH¢11.21 per litre, compared with the regular price of GH¢11.96.
However, Super XP 95 remains unchanged at GH¢13.97 per litre, even at the discounted outlets.
Star Oil has also implemented price reductions across a number of its outlets. A litre of Super (Petrol) is now selling at GH¢9.97 at 175 stations nationwide, down from GH¢10.56 in the first pricing window, although some outlets continue to sell at the general price of GH¢10.56.
Diesel is selling at GH¢10.97 per litre, down from GH¢11.56, with selected outlets maintaining the previous price. RON 95 has also declined to GH¢12.54 per litre, from GH¢12.96 in the first pricing window.
GOIL’s revised prices took effect from 6:00 a.m. today, while Star Oil’s adjustments became effective from 8:00 a.m.
The latest reductions are being driven largely by the appreciation of the Ghana cedi and sustained declines in international petroleum product prices.
Analysts say the price cuts are expected to ease cost pressures on consumers and may reignite discussions around possible transport fare reductions, as competition among OMCs intensifies.
