Ghana: Fuel Prices Fall For The Third Time

Oil Marketing Companies in the Republic of Ghana have reduced the pump prices of both petrol and diesel for the first pricing window of September, which runs from the 1st to the 15th of September 2024.

This is the third conservative time that fuel prices have been reduced as a result of the decline in the prices of refined petroleum products on the international market.

A litre of petrol sells between Gh¢13.31 and Gh¢14.35 per litre, while diesel sells between Gh¢13.57 and Gh¢14.70 per litre.

Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.

The reduction in fuel prices is a result of a reduction in refined petroleum products on the international market.

Forex (exchange rate) which is also one key determinant of cost ex-pump price of fuel has also seen some stabilisation, with a dollar being exchanged for Gh¢15.73

Data from the National Petroleum Authority, the petroleum downstream regulator, showed that the price of refined petroleum products -petrol and diesel went down.

NPA’s estimates showed that petrol price decreased to US$779.10 from US$794.58 per metric tonne while diesel price decreased to Gh¢712.88 from US$720.20 per metric tonne for the second pricing window of August 31.

Crude oil prices also witnessed some decreases during the second window of August, with Brent falling from $84 to $ 79 per barrel and WTI falling from $75 to $73 per barrel.

Currently, GOIL is selling petrol (Ron 91) at Gh¢14.16 per litre while petrol (Ron 95) is sold at Gh¢15.66, with diesel being sold at Gh¢14.99 per litre.

Shell is selling petrol at Gh¢14.35 per litre while diesel is sold at Gh¢14.70 per litre.

TotalEnergies is selling petrol at Gh¢14.25 while diesel is sold at Gh¢14.70 per litre.

Star Oil is selling petrol at Gh¢13.31 per litre while diesel is sold at Gh¢13.57 per litre.

Petrosol Ghana is selling petrol at Gh¢13.95 while diesel is sold at Gh¢14.55 per litre.

Zen Petroleum is selling petrol at Gh¢13. 31per litre while diesel is sold at Gh¢13.57per litre.

Lucky Oil is selling petrol at Gh¢13.31 per litre while diesel is sold at Gh¢13.57 per litre.

Allied is selling petrol at Gh¢13.31 while diesel is sold at Gh¢13.57 per litre.

Pacific is selling petrol at Gh¢14.39 per litre while diesel is sold at Gh¢14.79 per litre.

Engen Ghana is selling petrol at Gh¢14.10 while diesel is sold at Gh¢14.60 per litre.

Benab is selling petrol at Gh¢13.31 while diesel is sold at Gh¢13.57 per litre.

Source: https://energynewsafrica.com