Consumers can heave a sigh of relief as fuel prices at the pumps drop for the third consecutive time, offering marginal but welcome savings.
This latest reduction comes just two days into the second pricing window for March.
TotalEnergies has led the downward adjustment, reducing the price of both petrol and diesel from GHS15.79 to GHS15.49 per litre—a notable cut from the first pricing window earlier this month.
This marks the third straight drop in fuel prices since the second pricing window in February, signalling a positive trend for consumers.
The sustained decline is largely driven by two key factors: falling global crude oil prices and the relative stability of the Ghanaian cedi against the US dollar.
Industry experts anticipate that other oil marketing companies will follow suit in the coming days, potentially deepening the relief at the pump.
Earlier, the Chamber of Oil Marketing Companies (COMC) projected a likely price drop during this pricing window, citing a downward trend in international crude oil prices.
According to the Chamber, crude oil prices declined from $75.49 to $71.94 per barrel, representing a 4.16% decrease.
This dip is being attributed to growing concerns over global economic growth, largely influenced by intensifying trade tensions under the U.S. administration—factors that continue to weigh on oil demand forecasts.
If the current trends persist, consumers may continue to enjoy further reductions in fuel prices in the near future.