Petrol drops to GH¢16.38 but diesel rises to GH¢18.45 at Star Oil

Motorists are getting mixed news at the pumps this week. Star Oil, one of the first oil marketing companies to adjust prices for the November 1 to 15 pricing window, has cut petrol from GH¢16.45 to GH¢16.38 per litre while raising diesel from GH¢17.95 to GH¢18.45 per litre. JoyBusiness reports that other major retailers were expected to announce their revised prices later on Monday or during the week, so prices will vary from station to station.

The split reflects the Chamber of Oil Marketing Companies’ projections for the first half of November. The Black Star Times reports that the chamber expects petrol prices to fall by as much as 3.35 percent, while diesel rises by 1.50 percent and liquefied petroleum gas by 0.81 percent. That is why two drivers filling up at the same station can walk away with opposite experiences this week.

Behind the split are opposite movements on the international market. During the review period, international petrol prices fell by 4.97 percent while diesel rose by 3.54 percent and LPG jumped by 21.33 percent, even as crude oil itself declined by 1.90 percent. The cedi also helped, strengthening by 0.70 percent against the dollar to GH¢11.7326, with the chamber crediting foreign exchange interventions by the Ghana Gold Board over the past three weeks and a planned 1.5 billion dollar injection ahead of the festive season.

JoyBusiness’ separate indicative estimates put petrol at GH¢17.02 per litre and diesel at GH¢18.99, but those are market-wide guide figures rather than pump prices, and actual rates will depend on each retailer’s costs and margins. The Chamber of Petroleum Consumers has also forecast a fall in petrol prices, estimating an average drop from GH¢17.02 to about GH¢16.72 per litre.

In practical terms, the change is small for petrol users and painful for diesel users. A motorist buying 50 litres of petrol at the new Star Oil rate pays about GH¢3.50 less than before, while the same quantity of diesel now costs GH¢25 more. Diesel is the fuel of trotros, haulage trucks, farm machinery and the generators that keep many businesses running, so the increase reaches far beyond private car owners.

There is some cushioning in place. The government and industry have agreed to maintain, for one more month, the adjustments to the Energy Sector Shortfall and Debt Repayment Levy and selected statutory margins that moderate diesel price increases. The chamber describes this as preserving the burden-sharing arrangement introduced on 16 April 2026, under which government and industry split the cost of softening diesel increases.

Fuel prices in Ghana are reviewed every two weeks under the deregulated system, with companies setting their own pump prices above floors set by the National Petroleum Authority. That means the Star Oil figures are a signal of the window’s direction, not a fixed national price, and drivers who shop around may still find differences of several pesewas between stations.

With Christmas approaching, the timing matters. Petrol relief, however modest, arrives as households prepare for festive travel, while the diesel increase lands on transport operators and businesses at the very moment their costs feed into fares and prices. Checking the board before filling up, rather than assuming last month’s price, is the simplest way to avoid a surprise this week.

AON_news feedback-opera-news-app@opera.com