Fuel Prices Drop-OMCs

The Oil Marketing Companies (OMCs) have disclosed plans to cut down prices of petroleum today, July 18, 2022.

This move comes after the Bulk Oil Distributors cut the prices of finished petroleum products.

A visit to one of the leading fuel marketers, Total Energies, saw a slash in the prices of fuel.

Ghana Oil known as GOIL has also cut its fuel prices with petrol going for ¢11.30 and diesel trading at ¢13.63.

Meanwhile, Ghanaians are questioning whether the reduction in prices of petroleum products would compel transport operators to delay their agitations for an increase in transport fares.

Prices of Petroleum products began going down from the weekend (July 16th).

Diesel is expected to go down by more than 11% per liter, whilst petrol and LPG would fall by 4% per liter and 10% per kilogram respectively.

Speaking to the media, the Chief Executive of the Chamber of Petroleum Consumers, Duncan Amoah, noted that it is clear fuel prices will be down by some 5%, especially that of petrol and diesel.

“We pick every indication that pump prices will decline or go down by some 5% between the two products – petrol and diesel.”