Oil marketing companies in the Republic of Ghana have reduced the prices of fuel at the pumps across the West African nation, energynewsafrica.com can confirm.
Diesel (gasoil) price has been reduced by almost Gh¢3 per litre while petrol (gasoline) went down by, at least, Gh¢1.17 per litre.
Many consumers have described the reduction as good while others think the reduction should have been much bigger.
Prices of diesel and petrol shot up during the second pricing window in October and November 1, with diesel selling at Gh¢23.49 per litre while petrol sold at Gh¢17.99 per litre.
The increment in fuel prices, which was caused by the continuous depreciation of the Ghanaian cedi against major international currencies, triggered hikes in transport fares, with some drivers taking advantage of the situation to charge exorbitant fares.
On Tuesday, 15th November 2022, the leading oil marketing company, GOIL, took the lead to reduce its pump prices.
A litre of petrol is now sold at Gh¢16.82 down from the previous window price of Gh17.99 while diesel is sold at Gh¢20.49.
Shell and TotalEnergies, both major competitors of GOIL, sold at the same price for both petrol and diesel during the first pricing window with GOIL, but have also reviewed their pump prices with Shell selling at the same price GOIL is selling for both petrol and diesel.
TotalEnergies adjusted its diesel price to Gh¢20.99 per litre and petrol Gh¢16.99 per litre.
Engen, Star Oil, Petrosol and many other OMCs have also reviewed their pump prices downward.
Petrosol is selling diesel at Gh¢20.44 per litre while petrol is being sold at Gh¢16.82 per litre.
Engen is selling diesel at Gh¢20.50 per litre while petrol is sold at Gh¢16.80 per litre.
Star Oil is selling petrol at Gh¢16.59 per litre while diesel is sold at Gh¢20.29 per litre.
Meanwhile, Alinco oil is selling petrol at Gh¢16.60 while diesel is being sold at Gh¢19.79
Source: https://energynewsafrica.com