Several oil marketing companies (OMCs) have introduced slight reductions in ex-pump fuel prices to open the first pricing window of January. These adjustments, though modest, are expected to ease costs for consumers and extend the recent downward trend in fuel prices. Industry leader Star Oil has already aligned with market expectations, revising its rates accordingly. Under the new pricing, petrol is selling at GH¢10.86 per litre, diesel at GH¢11.96, and RON 95 at GH¢13.56.
Star Oil attributed the reductions to a combination of falling international prices for refined petroleum products and the recent appreciation of the Ghana cedi, which has lowered import costs and allowed savings to be passed on to consumers. Selected stations across the country will offer the discounted rates. Further reductions are expected in the coming days as competitive pressures intensify during the January pricing window.
In its January pricing forecast, the Chamber of Oil Marketing Companies (COMAC) projected broad reductions across fuel categories. Petrol is expected to decline by up to 4.80 percent, diesel by approximately 3.77 per cent, and liquefied petroleum gas (LPG) by around 2.19 percent.
According to COMAC, these anticipated decreases stem from a favourable cost environment both locally and internationally, driven by lower global refined product prices that have reduced landing costs and a stronger cedi that has eased exchange-rate pressures typically influencing ex-pump prices
Source: Daniel Sackitey
