By Francis Kobena Tandoh
Petroleum consumers in Ghana could see some relief at the pumps from Tuesday, June 16, as petrol prices are projected to decline following a recent drop in global oil prices and improved market conditions.
According to the Chamber of Oil Marketing Companies (COMAC), petrol, diesel, and Liquefied Petroleum Gas (LPG) will all record reductions during the second pricing window of June.
Petrol is expected to see the biggest reduction, with prices projected to fall between 7-9.31 percent.
Industry pricing outlooks indicate that the reduction may be one of the sharpest fuel price reductions in recent months.
Reports point to a lower National Petroleum Authority (NPA) guidance floor, with petrol projected to move from about GH¢15.20 per litre to around GH¢13.39 per litre, while diesel is also expected to ease modestly. Actual pump prices may still differ across oil marketing companies.
The expected reduction is being linked mainly to falling international crude oil prices, easing concerns in global oil supply markets, recent strengthening in the Ghana cedi, and adjustments within the local fuel pricing framework.
Global oil markets have turned lower recently amid renewed expectations of improved supply flows, helping reduce pressure on imported fuel costs.
Consumers may begin seeing revised prices reflected gradually across filling stations as the new pricing window takes effect. Enditem
Ghana Eye Report
