More oil marketing companies (OMCs) are cutting fuel prices this week, following the first pricing window in January and intensified competition within the downstream petroleum market.
The downward adjustments are expected to provide some relief to transport operators and fuel-dependent businesses, as pump prices continue to respond to movements in international petroleum prices and the cedi’s performance.
Market leader Star Oil, which made early price adjustments at the start of the year in line with industry expectations, has announced further reductions. A litre of petrol is now selling at GH¢10.56, down from GH¢10.86, while diesel has declined to GH¢11.56 from GH¢11.96. Ron 95 is also selling at GH¢12.96, down from GH¢13.56.
Selected Star Oil outlets across the country are offering additional promotional discounts, with petrol selling at GH¢10.36 per litre and diesel at GH¢11.36.
In its earlier New Year adjustment, Star Oil attributed the price reductions to favourable international petroleum product prices and the appreciation of the cedi, enabling the company to pass on cost savings to consumers.
State-owned GOIL has also reviewed prices downward. Petrol is selling at GH¢10.99 per litre, diesel at GH¢11.96, while Super XP 95 is priced at GH¢13.97.
At Shell outlets, petrol is now selling at GH¢11.68 per litre, with diesel priced at GH¢12.38. TotalEnergies has matched similar price points, selling petrol at GH¢11.68 and diesel at GH¢12.38 per litre.
PETROSOL has likewise reduced prices, with petrol now selling at GH¢11.65 per litre and diesel at GH¢12.35. In the second pricing window of December, PETROSOL had reduced petrol prices to GH¢12.48 per litre, with diesel also selling at GH¢12.48.
The latest price adjustments underscore growing competition among OMCs as firms seek to protect market share amid easing cost pressures in the downstream petroleum sector.
