Santol Energy, a wholly Ghanaian-owned oil marketing company, has expressed strong alignment with recent industry views advocating fuel price reductions, welcoming what it described as a timely and pragmatic intervention by the leadership of Star Oil as pressure mounts to translate improving macroeconomic conditions into consumer relief.
Santol Energy said comments by Star Oil’s chief executive, Kwame Tieku, have helped advance an important industry-wide conversation on how efficiency gains and stabilising economic indicators can be reflected at the pump, without compromising fuel quality or the long-term health of the downstream petroleum sector.
In support of this direction, Santol Energy disclosed plans to roll out a customer loyalty initiative, branded “fuel ntosuo,” that would reward regular customers with bonus fuel.
The company said details of the scheme would be announced soon, positioning it as part of a broader effort by indigenous marketers to innovate while easing cost pressures on households and businesses.
“The conversation being led by industry leaders such as Star Oil is critical,” Santol Energy said in a media briefing. “It creates space for constructive engagement on how pricing frameworks can evolve in ways that are fair to consumers and sustainable for operators.”
Santol Energy stressed that any movement on pump prices should be anchored in a holistic review of downstream pricing policies, including cost structures, foreign exchange exposure and regulatory obligations.
It said collaboration among oil marketing companies would be essential to ensure that competitive pricing does not come at the expense of standards or supply reliability.
The company also commended the National Petroleum Authority for maintaining market stability through consistent regulatory oversight, noting that effective leadership at the authority has helped the industry navigate recent global volatility.
At the same time, Santol encouraged the regulator to intensify stakeholder consultations, particularly on the floor price mechanism.
It said a more flexible and transparent engagement process could help ensure that efficiencies achieved by marketers are passed on to consumers when conditions permit.
“The shared objective across the industry is to allow Ghanaians to feel the benefits of improving economic conditions,” the company said. “That goal is best achieved through dialogue, cooperation and responsible pricing.”
Santol Energy highlighted its track record in quality assurance, noting that it was the first indigenous oil marketing company in Ghana to attain ISO certification, a feat, it said reflects its commitment to operational excellence and regulatory compliance.
Industry observers say the alignment among leading indigenous marketers could strengthen calls for measured fuel price adjustments, particularly if exchange rate stability and global oil price trends remain favourable.
Santol Energy said it remains committed to working with industry peers, including Star Oil, regulators and consumers to promote affordability, innovation and sustainability across Ghana’s downstream petroleum market.
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