Fuel prices at the pumps are showing mixed movements as the second pricing window of October opened around October 15–16. Some oil marketing companies (OMCs) have lowered prices, while others have increased them, even though recent global and local developments would normally push prices down.
In the past weeks, global oil prices have fallen, and the Ghanaian cedi has strengthened against the U.S. dollar. These factors usually mean cheaper fuel for consumers. Following this trend, Goil and Staroil reduced petrol to GHS 12.98 and GHS 12.77 per litre, respectively, with diesel at GHS 13.85 and GHS 12.97. TotalEnergies also lowered prices, with petrol at GHS 13.58 and diesel at GHS 13.57.
On the other hand, Shell and Petrosol increased petrol prices to GHS 13.79 and GHS 13.48, while diesel remained the same at GHS 14.18. This is surprising given the favorable conditions, but it shows that fuel stations adjust prices differently depending on stock, supply costs, and business strategy.
The Chamber of Oil Marketing Companies (COMAC) had projected an overall decline for this pricing window, expecting petrol to fall by up to 4.15% and diesel by up to 4.10%. Some stations have followed this projection, while others are taking more time to adjust.
For consumers, this means it pays to check prices at different stations, especially for those who buy fuel regularly or in large volumes.
Internationally, Brent crude has fallen 8.15% over the past month and is down 19.59% compared to the same time last year. As of Tuesday, Brent is trading around $60.8 per barrel. These trends suggest that further reductions in local fuel prices could happen in the coming days.
Generally, fuel prices are moving downward, but not all stations in Ghana are following the same pattern.
