Oil Prices Drop as OMCs Adjust Prices Downward
In a welcome move, some Oil Marketing Companies (OMCs) in Ghana have started reducing fuel prices at the pumps, effective the second pricing window of February. Total Energies has taken the lead, slashing the prices of both petrol and diesel to GH¢15.99 per litre, down from GH¢16.15 in the first pricing window of the month.
Notably, Total Energies had maintained its price at GH¢16.15 while other OMCs increased theirs in the first pricing window of February. Shell has also followed suit, reducing the price of diesel to GH¢15.99 per litre, down from GH¢16.09 in the first pricing window of February. Additionally, the price of petrol has dropped from GH¢16.23 to GH¢15.89 per litre in the second pricing window of the month.
This downward adjustment in prices is expected to bring relief to motorists and commuters, who have been bearing the brunt of high fuel prices in recent times. The move by the OMCs is also seen as a positive step towards stabilizing fuel prices in the country.
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