Ghana’s Oil Marketing Companies (OMCs) have declared that fuel prices will drop as of today, Monday, June 2, 2025.
According to Ghana News Agency (GNA) checks, major OMCs have adjusted their prices for a variety of petroleum items, which is good news for companies and drivers alike.
There are notable drops in pricing when comparing May and June.
StarOil, for example, reduced the price of Super from GH¢12.57 in May to GH¢12.49.
The price of RON95 at StarOil has dropped from GH¢14.89 in May to GH¢13.99.
Diesel is currently priced at GH¢12.29, down from GH¢13.49 the previous month, and Super is priced at GH¢11.57, a significant decrease from May’s price of GH¢12.57 at StarOil’s sales depot.
Similar price adjustments have been made by GOIL, which now sells Super XP 95 for GH¢14.34, Diesel XP for GH¢12.98, and Super XP for GH¢12.52.
Super XP, Diesel XP, and Super XP 95 were all marketed by GOIL in May for GH¢13.27, GH¢13.87, and GH¢15.27, respectively.
It is anticipated that this drop in fuel prices will lower the cost of transportation nationwide.
The Association of Oil Marketing Companies and other industry participants blame the decline on a mix of improved domestic conditions and worldwide market trends.
The current decline is expressly attributed by the Chamber of Oil Marketing Companies to the Ghanaian cedi’s strengthening versus the US dollar over the specified time frame.
The Chamber observed that although the price of Brent crude oil is rising, it has stabilized at about $64 per barrel after dropping to just over $60 per barrel in April as a result of higher US tariffs and an increase in supply from OPEC+ countries.
A 90-day agreement with China and trade accords between the US and the UK are said to have supported the favorable market attitude that has caused this stabilization.
Miss Annie Seaneku, StarOil’s marketing officer, acknowledged in an exclusive interview with the GNA that the price cut was a result of managerial choices as well as the cedi’s strengthening value relative to the US dollar.
She added that additional fuel price reductions might result from a sustained strengthening of the cedi relative to the dollar.
Source: newsthemegh.com