Ghana’s fuel prices are witnessing a significant dip, providing much-needed relief to consumers as all major fuel providers have reduced their prices, reflecting a more competitive market.
These reductions come at a time when the cost of living continues to challenge many Ghanaians, making the drop in fuel prices a welcome respite. As predicted by the Chamber of Petroleum Consumers (COPEC), which had forecasted a 4% to 5% decrease due to declining global petroleum prices, this trend is in line with broader market expectations.
At Goil, petrol prices have plummeted from GH¢14.16 to GH¢12.99, marking a notable 8.27% reduction. Diesel prices have also seen a modest decrease from GH¢14.70 to GH¢14.49, a 1.43% drop. Goil’s significant cuts reflect the competitive pressure within the market, making it a key player in the current pricing landscape.
Star Oil has followed suit, lowering petrol prices from GH¢13.55 to GH¢12.55, reflecting a 7.38% decrease. Diesel prices have also been adjusted, with a drop from GH¢13.85 to GH¢13.25, representing a 4.34% reduction. Star Oil stands out as one of the stations offering substantial cuts, benefiting budget-conscious consumers.
Shell, another major player, has also reduced its prices. Petrol has dropped from GH¢14.35 to GH¢13.49, while diesel has decreased from GH¢14.70 to GH¢14.19. These reductions position Shell as a competitive force in providing consumers with more affordable fuel options.
Similarly, Total Energies has implemented significant reductions, lowering petrol from GH¢14.35 to GH¢13.45 and diesel from GH¢14.60 to GH¢13.99. This aligns Total with the broader market trend of price reductions, as stations strive to attract cost-conscious consumers.
Smaller players like Benab Oil have also adjusted their prices, with petrol now priced at GH¢13.31 (down from GH¢13.48) and diesel holding steady at GH¢13.65.
Among the most competitive, Puma Energy has set the benchmark, offering both petrol and diesel at GH¢12.85, down from GH¢13.85 and GH¢13.99, respectively.
Petrosol has followed the trend, reducing petrol prices to GH¢12.88 from GH¢13.95, and diesel to GH¢13.98 from GH¢14.55. Similarly, Bloom Petroleum has lowered petrol prices from GH¢14.19 to GH¢13.42, and diesel from GH¢14.59 to GH¢13.48.
Zen Petroleum rounds out the list with petrol prices dropping from GH¢13.65 to GH¢13.31, and diesel prices falling from GH¢14.02 to GH¢13.57.
Across all nine stations, the average petrol price now stands at GH¢13.09, while diesel averages GH¢13.59. The average percentage reduction across these stations is 5.78% for petrol and 4.03% for diesel, reflecting the overall decrease in fuel costs.
With these reductions, motorists in Ghana now have a wider array of affordable options at the pump, marking a shift from the higher prices seen in recent months.
