Motorists across Ghana are expected to enjoy significant savings at the pumps from June 16, as petrol, diesel and LPG prices are projected to decline during the second pricing window of June.
According to the latest outlook from the Chamber of Oil Marketing Companies (COMAC), petrol will record the biggest reduction, with prices expected to fall by up to 9.31%.
If fully implemented by oil marketing companies, petrol could sell for as low as GH¢14.72 per litre, marking one of the sharpest price cuts in recent years.
Diesel prices are also expected to ease, with a litre likely to sell around GH¢17.02, while LPG is projected to drop slightly to about GH¢17.20 per kilogram.
The reductions are being driven mainly by falling crude oil and refined petroleum prices on the international market.
Crude oil prices have declined by about 12% this month, while LPG, petrol and diesel prices have also recorded significant drops globally.
The National Petroleum Authority (NPA) has meanwhile lowered its fuel price floors for the June 16–30 pricing period.
Petrol’s floor price has been reduced to GH¢13.39 per litre, while diesel’s has fallen to GH¢15.11 per litre.
Industry analysts say fuel prices could have fallen even further if not for the recent weakening of the cedi, which depreciated from GH¢11.59 to GH¢11.80 against the US dollar during the pricing period.
With competition intensifying among fuel retailers, major players such as GOIL and Star Oil are expected to price their products close to the new approved floors, offering additional relief to consumers in the weeks ahead.
