Motorists have received a welcome New Year gift as several Oil Marketing Companies (OMCs) implemented marginal reductions in ex-pump fuel prices at the start of the January pricing window.
The price cuts, which took effect in the early hours of the New Year, reflect a continued downward trend in petroleum costs, providing relief for both commercial and private transport users.
Market leader Star Oil was among the first to update its digital displays, setting a competitive benchmark for the industry. The company’s latest price list shows significant dips across its main products:
Petrol: GH¢10.86 per litre
Diesel: GH¢11.96 per litre
RON 95: GH¢13.56 per litre
Star Oil management said the decision to lower prices was driven by a “favourable domestic and external cost environment,” citing the recent appreciation of the Ghana cedi and a slump in international refined product prices as key factors enabling them to pass savings onto consumers.
