Despite projections by the Chamber of Petroleum Consumers (COPEC) of fuel price reductions for the second pricing window of November, major Oil Marketing Companies (OMCs) across Ghana are yet to adjust their prices.
The second pricing window, which began on Saturday, November 16, was expected to bring some relief to consumers following COPEC’s forecast of a 5.06% drop in petrol prices and a 3.88% reduction in diesel prices, but that is yet to be seen.
COPEC had estimated that petrol prices would decline from an average of GH¢14.30 per litre to a range of GH¢ 12.90 to GH¢ 14.26 per litre, while diesel prices were projected to fall from an average of GH¢ 15.16 per litre to between GH¢ 13.85 and GH¢ 15.31 per litre. These anticipated reductions were attributed to shifts in global oil prices and exchange rate improvements.
However, as of now, prices at leading outlets, including Shell, TotalEnergies, and Goil, remain unchanged. For instance, Goil continues to sell petrol at GH¢ 14.64 per litre and diesel at GH¢ 15.45, matching rates from the previous pricing window. Similarly, other OMCs like Shell and TotalEnergies have maintained petrol prices at GH¢ 14.98 and GH¢ 14.90, respectively, with diesel prices standing at GH¢ 15.58 and GH¢ 15.50.
This lack of change has left consumers worried, especially as many were counting on relief from the recent hikes. For context, Goil had increased diesel prices from GH¢ 14.90 per litre in October’s second pricing window to GH¢ 15.45 per litre in November’s first window, reflecting a steady upward trend in recent months.
Consumers are watching closely to see whether adjustments are made later in the pricing window. Until then, the burden of high fuel costs continues to weigh on households and businesses alike.
