Some oil marketing companies (OMCs) have begun reducing fuel prices at the pumps at the start of the New Year, marking the first pricing window for January.
The marginal price cuts are expected to offer modest relief to consumers and extend the recent downward trend in fuel prices.
Market leader Star Oil has already adjusted its prices in line with industry expectations.
Under the new rates, petrol is selling at GH¢10.86 per litre, diesel at GH¢11.96, and RON 95 at GH¢13.56.
The company said the reductions are driven by lower international prices for refined petroleum products and the recent appreciation of the Ghana cedi, which has reduced import costs.
Selected Star Oil stations nationwide will apply the new prices.
Industry players expect further price reductions in the coming days as competition intensifies during the January pricing window.
In its January outlook, the Chamber of Oil Marketing Companies (COMAC) projected price declines across all major fuel products.
Petrol prices are expected to fall by up to 4.80 per cent, diesel by about 3.77 per cent, and liquefied petroleum gas (LPG) by approximately 2.19 per cent.
According to COMAC, the anticipated reductions reflect a favourable cost environment both locally and internationally, with lower global refined fuel prices reducing landing costs and a stronger cedi easing exchange-rate pressures that typically influence ex-pump prices.
