Some Oil Marketing Companies (OMCs) have begun reducing petrol and diesel prices, offering slight relief to consumers as global petroleum market trends fluctuate.
State-owned GOIL has initiated a reduction in petrol prices, cutting the cost from GH₵14.64 per liter to GH₵14.35, while diesel prices remain steady at GH₵15.45 per liter. This marks the first adjustment since the second pricing window of November began.
This move aligns with projections by the Chamber of Petroleum Consumers (COPEC), which forecasted a decline in petrol prices due to reduced international market prices.
According to COPEC, petrol prices dropped from $723.03 to $676.64 per metric tonne, though diesel experienced a slight increase.
Additionally, the recent stabilization of the cedi against the dollar has contributed to the price adjustments. Observers now await similar actions from other OMCs as the market adjusts to these developments.
