Africa-Press – Ghana. Oil Marketing Companies (OMCs) in Ghana have announced a reduction in fuel prices, effective today, Monday, June 2, 2025.
Checks by the PRESS reveal a downward adjustment across various fuel products at major OMCs, a welcome development for motorists and businesses.
A comparison of prices between May and June shows significant declines.
StarOil, for instance, has revised its price for Super to GH¢12.49, down from GH¢12.57 in May.
RON95 at StarOil is now selling at GH¢13.99, compared to May’s price of GH¢14.89.
At StarOil’s sales depot, Super is priced at GH¢11.57, a notable drop from May’s GH¢12.57, and Diesel is now GH¢12.29, down from the previous month’s rate of GH¢13.49.
Similarly, GOIL has adjusted its prices, with Super XP selling at GH¢12.52, Diesel XP at GH¢12.98, and Super XP 95 at GH¢14.34.
In May, GOIL sold Super XP at GH¢13.27, Diesel XP at GH¢13.87, and Super XP 95 at GH¢15.27.
This reduction in fuel prices is expected to ease transportation costs across the country.
Industry players, including the Association of Oil Marketing Companies, attribute the drop to a combination of global market trends and improved domestic dynamics.
The Chamber of Oil Marketing Companies specifically credits the recent decrease to the strengthening of the Ghanaian cedi against the US dollar over the given period.
The Chamber noted that while Brent crude oil prices are rebounding, having fallen to just above $60 per barrel in April due to increased US tariffs and a rise in supply from OPEC+ nations, prices have since stabilised at roughly $64 per barrel.
This stabilisation is attributed to positive market sentiment, bolstered by trade agreements between the US and UK, and a 90-day agreement with China.
In an exclusive interview, Miss Annie Seaneku, Marketing Officer at StarOil, confirmed that managerial decisions coupled with the cedi’s appreciation against the US dollar influenced the price reduction.
She further stated that a sustained appreciation of the cedi against the dollar could lead to further reductions in fuel prices.
For More News And Analysis About Ghana Follow Africa-Press
