Ahead of the holiday season, prices of petroleum products went down during the most recent review. Large oil marketing companies (OMCs) have already begun offering price cuts just two days into the New Year.
For instance, Goil lowered its pump costs on Monday morning. Prices for gasoline (from GH13.40) and diesel (from GH15.85) have decreased to GH12.40 and GH14.60, respectively.
Meanwhile, other fuel outlets like Goodness Energy and Star Oil are selling a litre of petrol for a little above GHS10.00.
The decrease that was implemented by GOIL is consistent with the twice-weekly review that is performed on the pricing of petroleum products at the pumps.
TotalEnergies has also revealed that they would be lowering their prices.
Later on today, it is anticipated that rates would also be adjusted by other oil marketing companies.
As businesses compete with one another for customers, it is anticipated that this would result in a general decrease in pricing.
At the moment, there are more than one hundred oil marketing companies operating in the country.