There has been an 8% drop in fuel prices
“Several large Oil Marketing Companies (OMCs) have started lowering the prices of some petroleum products at gas stations.
The market leader, GOIL, has announced a decrease in prices by over 8%.
As a result, GOIL is now selling diesel at ₵14.60 per liter (a ₵1.50 drop) and petrol at ₵12.40 per liter (a ₵1 drop).”
GOIL’s price decrease is in line with the recent review of petroleum product prices at gas stations. TotalEnergies has also announced a price reduction, and it is expected that other oil marketing companies will follow suit.
Competition among the firms is likely to drive prices down as they compete for customers.
There are over 100 oil marketing companies operating in the country.
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