In Ghana, the start of August brought some relief to motorists as Oil Marketing Companies (OMCs) reduced the pump prices of petrol and diesel. A report indicates that the price drop, effective August 1st to August 15th window, was a welcome change for many. Leading OMCs like GOIL, Shell, Star Oil, and Zen Petroleum adjusted their prices, with petrol now selling between Gh¢14.42 and Gh¢14.02 per litre and diesel between Gh¢14.99 and Gh¢14.48 per litre. The reduction was attributed to a decrease in refined petroleum products on the international market.
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Ghana’s fuel prices are reviewed every two weeks, unlike other African countries where prices are reviewed monthly. According to the National Petroleum Authority, the price of refined petroleum products decreased, with petrol dropping to US$817.75 from US$842.98 per metric tonne and diesel to US$755.93 from US$792.32 per metric tonne. Crude oil prices also saw a decline in July, with Brent falling from $87 to $80 per barrel and WTI from $84 to $73 per barrel. As of Monday, the prices at various OMCs were: GOIL: Petrol (Ron 91) – Gh¢14.42 per liter, Petrol (Ron 95) – Gh¢15.52 per liter, Diesel – Gh¢14.99 per litre; Shell: Petrol – Gh¢14.87 per litre, Diesel – Gh¢14.92 per litre; TotalEnergies: Petrol – Gh¢14.80 per litre, Diesel – Gh¢14.90 per litre; Star Oil: Petrol – Gh¢13.65 per litre, Diesel Gh¢14.02 per litre; Petrosol Ghana: Petrol – Gh¢14.60 per litre, Diesel – Gh¢14.85 per litre; Zen Petroleum: Petrol – Gh¢14.02 per litre, Diesel – Gh¢14.48 per litre.
