Motorists across Ghana can now enjoy lower fuel prices as GOIL and Star Oil, two leading oil marketing companies (OMCs), reduce prices in response to the cedi’s recent gains against the US dollar.
GOIL cuts prices across all fuel types
GOIL, Ghana’s largest and wholly indigenous OMC, has reduced prices across its full range of fuel products:
- Petrol: ₵12.52 per litre (down from ₵13.27)
- Diesel: ₵12.98 per litre (down from ₵13.87)
- Premium: ₵14.34 per litre (down from ₵15.27)
This move makes GOIL one of the first major players to act swiftly in passing forex savings to consumers.
Star Oil joins in with reductions
Star Oil has also dropped prices for petrol and diesel, though its premium product remains unchanged:
- Petrol: ₵11.77 (down from ₵12.57)
- Diesel: ₵12.49 (down from ₵13.49)
- Premium: Still ₵14.89
With petrol now among the cheapest on the market, Star Oil is expected to influence pricing competition in the sector.
Stronger cedi drives price drop
The cedi’s recent rebound against the dollar has made fuel imports cheaper, giving OMCs room to reduce pump prices. Analysts say the new trend could continue if the local currency holds steady and global crude prices remain moderate.
Consumers welcome relief, call for more cuts
Transport operators and consumers have praised the reductions but are urging other OMCs to follow suit. Industry insiders predict that mounting pressure could soon lead to broader market-wide price adjustments.
