Despite industry predictions of slight modifications starting on August 16, several OMCs have kept the pricing of petroleum products at the pumps the same.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Some major Oil Marketing Companies (OMCs) have maintained petroleum product prices at the pumps despite industry projections of marginal changes from August 16.

Data released by the Chamber of Oil Marketing Companies (COMAC) last week indicated that petrol and liquefied petroleum gas (LPG) prices were expected to rise slightly, while diesel was projected to see a marginal drop.

However, checks by Joy Business revealed that most OMCs kept prices unchanged over the weekend.

Industry sources explained that competition influenced the decision, as the projected increases were not significant enough to warrant immediate adjustments.

Source: newsthemegh.com