Fuel prices have reduced at the pumps

The Executive Secretary of the Chamber of Petroleum Consumers, Duncan Amoah, has noted that the reductions in the prices of petroleum products at the pumps in the latest pricing window were inadequate.

According to him, the rate of appreciation was wide enough to trigger a higher rate of reduction than what was given.

He noted that fuel prices should have been selling below GH¢12 instead of the current prices at which some OMCs are selling.

“The reduction that has been passed for the first window in June is good but woeful. As of Friday, you had BDCs selling around GHȼ8 a litre for petrol and between GHȼ8.50 and GHȼ9 for diesel. If you add the cumulative tax incidence of GHȼ3.27 and the OMC margin of 40-50 pesewas a litre, you do not expect any OMC to do anything about GHȼ11.70 at this point. But you still have some selling at GHȼ12 and above. It tells you that there is clearly a challenge somewhere,” he was quoted by citinewsroom.com.

The prices of petroleum products reduced marginally at the pumps at the beginning of the first pricing window of June.

The drop follows the constant appreciation of the cedi against the dollar on the interbank and forex markets.

Checks by GhanaWeb Business show that as of Monday, June 2, 2025, at 9:00 AM, Goil, the leading oil marketing company, has adjusted its price to reflect the gains of the cedi.

The new rates are as follows:

Super XP is selling at GH¢12.52

Diesel XP is selling at GH¢12.98

Super XP/RON 95 is selling at GH¢14.34

TotalEnergies has also adjusted its prices from its previous pricing window of May 2025.

Super XP is selling at GH¢13.30

Diesel XP is selling at GH¢13.99

Ron 95 is selling at GH¢16.10

Also, some smaller OMCs have adjusted their prices in accordance with that of Goil.

New prices at Star Oil stations are GH¢11.77 for petrol, down from GH₵12.57, and GH¢14.89 for its Ron 95.

Allied Oil, another smaller OMC, is also selling its Super XP for GH¢12.15, Diesel XP for GH¢13.35.

SSD/AE