As Christmas approaches, Ghanaians are experiencing a major relief in their planned budgets as Oil Marketing Companies (OMCs) cut fuel prices.
Though the relief might be small, it is a welcome sigh of relief as transportation forms part of the Christmas activities of Ghanaians.
A weekend ahead of the yuletide, The High Street Journal, can confirm that one of Ghana’s leading OMCs, Goil, has reduced prices on key fuel products, easing pressure on household budgets at a time when spending peaks.
A comparison of the old and new prices shows clear cuts. Petrol, sold as Super XP, has dropped from GH¢12.62 per litre to GH¢11.99, a reduction of 63 pesewas.
Diesel XP has also gone down, from GH¢13.20 to GH¢12.94 per litre, saving drivers 26 pesewas on every litre.
Super XP 95, however, remains unchanged at GH¢14.95.
For many private road users, these reductions are meaningful. Filling a typical private car for the Christmas rounds will now cost less, which is a major savings for the household.
For diesel users, the savings may be smaller per litre, but they still add up, especially for those who travel long distances during the festive season.
These savings could translate directly into better Christmas plans. The money saved at the pump can go into food, transport to hometowns, small gifts, or simply reducing the stress of end-of-year expenses. For families planning road trips to visit relatives, the lower fuel cost makes travel slightly more affordable and predictable.
However, the relief might not be evenly felt by everyone. For the ordinary public transport user, the impact may be limited. Trotro and bus fares are unlikely to drop, as transport operators often cite maintenance costs, spare parts, and previous fuel hikes as reasons for keeping fares unchanged.
As a result, commuters may not see immediate reductions in what they pay daily.
Still, for private motorists, ride-hailing drivers, delivery riders, and small business owners who rely directly on fuel, the timing of the cuts could not be better.
Lower fuel costs ahead of Christmas can improve cash flow, reduce operating expenses, and create a bit of breathing room after a difficult year.
While the reductions may not solve all cost-of-living challenges, they offer a rare piece of good news as the festive season nears.
With Goil leading the way, it is expected that all other OMCs will follow suit and cut prices to enhance the impact on the expenditure of Ghanaians.
