Several Oil Marketing Companies (OMCs) in Ghana have initiated a reduction in petroleum product prices at the pumps, effective from today, January 1, 2024. This marks the second consecutive decrease in fuel prices.
Star Oil, a major player in the industry, has taken the lead by adjusting the price of a liter of petrol from ¢12.69 to ¢11.24. Similarly, the price of a liter of diesel has been reduced from ¢11.69 to ¢11.24.
Other significant OMCs are expected to follow suit by lowering their prices in the coming hours.
The reduction is attributed to the stability of the cedi over the last two weeks and the continuous decrease in international prices of finished petroleum products.