The Chamber of Petroleum Consumers Ghana (COPEC) has welcomed recent reductions in fuel prices by some Oil Marketing Companies (OMCs), describing the adjustments as consistent with prevailing market conditions and beneficial to consumers.
In a press statement issued on Tuesday, COPEC said it had observed downward adjustments in pump prices within the current pricing window, attributing the reductions to declining international refined petroleum prices, relative stability of the cedi, and heightened competition in Ghana’s deregulated downstream petroleum sector.
According to COPEC’s analysis, petrol (Super) is currently selling at GH¢10.56 per litre at Star Oil, GH¢10.99 at GOIL, and GH¢11.68 at TotalEnergies.
This represents a price difference of about 4.1 per cent between Star Oil and GOIL, and 10.6 per cent between Star Oil and TotalEnergies.
Diesel prices range from GH¢11.56 per litre at Star Oil, GH¢11.96 at GOIL, to GH¢12.38 at TotalEnergies, while premium petrol (RON 95) is selling between GH¢12.96 at Star Oil and approximately GH¢13.97 to GH¢13.98 at GOIL and TotalEnergies.
COPEC noted that a year-on-year comparison with prices recorded in January 2025 shows significant savings for consumers under the current pricing window. The chamber said petrol and diesel prices have declined by between GH¢3 and GH¢4 per litre compared to the same period last year.
On the basis of these developments, COPEC has called on OMCs that are yet to review their prices to do so promptly, stressing that pump prices must reflect prevailing market realities and serve the broader interest of consumers.
The chamber also commended OMCs that have already reduced prices, describing their actions as responsive and fair. It emphasized that transparent and timely fuel pricing is critical to easing financial pressures on households, transport operators and businesses.
Beyond fuel retailers, COPEC urged commercial transport operators, including ride-hailing services such as Bolt, Uber and Yango, to adjust their fares downward in line with the reduction in ex-pump fuel prices. According to the chamber, consumers should benefit from favourable market conditions whenever fuel prices fall.
COPEC reaffirmed its commitment to monitoring fuel price movements across the country and engaging stakeholders to promote transparency, fairness and accountability in the downstream petroleum sector. The statement was signed by Duncan Amoah, Executive Secretary of COPEC.
Source: www.kumasimail.com
