The Executive Director of the Centre for Environmental Management and Sustainable Energy (CEMSE), Ben Nsiah, has said that heightened competition among Oil Marketing Companies (OMCs) is reshaping Ghana’s petroleum downstream sector, creating a healthier and more consumer-friendly market outlook.
His comments come on the back of Star Oil, Ghana’s leading OMC, revising its ex-pump prices for the second time in August 2025.
The company attributed the adjustment to fluctuations in global Brent crude prices and the recent stability of the Ghana cedi against the US dollar.
Nsiah explained that Star Oil’s market influence is forcing other OMCs to adjust, ultimately benefiting consumers.
“Companies are not able to price their products higher than they are doing today. Star Oil has, in some ways, become a benchmark when these OMCs are setting prices,” he said.
He noted that as Ghana’s largest petroleum supplier, Star Oil’s adoption of advanced technologies and deployment of skilled human resources have allowed it to attract a growing customer base, thereby pressuring higher-priced competitors.
“This has become something that is helping the petroleum downstream sector. Without Star Oil and other competitive players, petroleum product prices in Ghana would have been much higher,” he added.
Nsiah also observed that while some OMCs struggle to price competitively due to higher operational costs, market forces are driving efficiency, affordability, and greater customer focus across the industry.
According to him, Star Oil’s pricing strategies and leadership position are helping to stabilise the sector, encouraging other OMCs to innovate and operate more efficiently.
Looking ahead, Nsiah predicted that fuel prices could decline in the first pricing window of September 2025.
He attributed this to the combination of a stable cedi and intensified market competition, which is expected to continue exerting downward pressure on pump prices.
With these dynamics, he said, Ghana’s petroleum downstream sector is becoming more competitive and resilient, ensuring that consumers benefit from fairer pricing and improved service delivery.
