Ghana: Star Oil Suspends COMAC Membership Over Price Floor Policy

Star Oil Ghana, the market leader in fuel sales by volume in Ghana’s downstream petroleum sector, has indefinitely suspended its membership of the Chamber of Oil Marketing Companies (COMAC) over disagreements on the industry price floor policy.

The company announced the suspension in a statement issued on Wednesday, January 21, 2026.

Prior to this development, the Chief Executive Officer of Star Oil, Mr. Philip Tieku, and the Group Chief Executive Officer of GOIL PLC, Mr. Edward Abambire Bawa, had engaged in a social media exchange over the policy.

This prompted COMAC’s Board Chairman, Mr. Gabriel Kumi, to describe the exchanges as unhealthy and urge the two industry leaders to cease fire.

This marks the second time a major oil marketing company has suspended its membership of COMAC, formerly known as the Association of Oil Marketing Companies.

In 2021, GOIL PLC, under the leadership of Mr. Kwame Osei Prempeh, suspended its membership of the Association following accusations that its reduction in fuel prices was influenced by government.

GOIL later rejoined the Association and currently serves on its board.

In its statement announcing the suspension, Star Oil said the decision to suspend its membership indefinitely was not taken lightly.

The company noted that it has historically been a committed participant in COMAC’s activities and remains the largest financial contributor to the Chamber, supporting its operations and advocacy efforts over the years.

Star Oil explained that its continued membership was based on the belief that COMAC exists to fairly represent the collective interests of its members, while providing space for divergent but well-intentioned views on policy and regulatory matters. However, the company said recent developments have forced a reassessment of that belief.

The company disclosed that it has consistently advocated for the scrapping of the price floor, a position that sharply contrasts with the majority view within the Chamber.

Star Oil expressed concern that, despite its significant contributions, its position has not been adequately acknowledged or fairly communicated by COMAC, particularly during recent media engagements by the Chamber’s Chief Executive.

According to Star Oil, the failure to clearly explain the rationale behind its position has led to damaging public perceptions, suggesting that its advocacy is driven by anti-competitive intentions or illicit motives. The company described such implications as troubling, unfair, and harmful to its reputation.

While acknowledging that most COMAC members support the retention of the price floor, Star Oil questioned why the Chamber appears unwilling to reasonably articulate the basis of a dissenting view, even when it does not align with the majority position.

For clarity, Star Oil reiterated that its opposition to the price floor is grounded in economic and market principles. The company argues that the policy distorts market signals by preventing the timely transmission of international product prices and foreign exchange movements into local pricing at the oil marketing company level.

According to Star Oil, this distortion weakens competition and ultimately disadvantages consumers—an argument it noted mirrors the reasoning previously advanced by Bulk Distribution Companies in their successful push to have their own price floor removed.

“In light of the above, Star Oil believes that its continued membership of COMAC under the current circumstances exposes the company to reputational risk without offering a fair platform for its views to be represented by the Chamber.

“We therefore consider it prudent to suspend our membership until such a time that the Chamber demonstrates a clear commitment to balanced representation and fair communication of divergent member positions,” the statement concluded.