Petrol prices drop as diesel rises at Star Oil for November pricing window

Petrol prices have started dropping at some fuel stations as Oil Marketing Companies (OMCs) begin implementing new pump prices for the first half of November, while diesel prices are going up.

Star Oil has reduced its petrol price from GH¢16.45 to GH¢16.38 per litre but increased diesel from GH¢17.95 to GH¢18.45.

Other major fuel retailers are expected to announce their adjustments later today or during the week.

The changes follow the Chamber of Oil Marketing Companies’ (COMAC) projections for the November 1–15 pricing window, which indicate a possible 3.35% drop in petrol prices, a 1.50% increase in diesel and a 0.81% rise in LPG.

COMAC attributed the mixed outlook to falling international petrol prices, rising diesel and LPG costs, and a stronger cedi. It also cited government and industry measures to cushion diesel consumers.

International petrol prices fell by 4.97% during the review period, while diesel rose by 3.54% and LPG by 21.33%. The cedi appreciated by 0.70% against the dollar.

To moderate the expected increase in diesel prices, adjustments to the Energy Sector Shortfall and Debt Repayment Levy and selected statutory margins have been maintained for one month.

Actual pump prices will vary among fuel retailers.

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