Some Oil Marketing Companies (OMCs) have begun reducing fuel prices at the pumps in line with industry projections.
The report indicates that some Oil Marketing Companies (OMCs) have begun reducing fuel prices at the pumps in line with industry projections.
It further notes that market leader GOIL has reduced petrol prices from GH¢13.87 to GH¢12.79 per litre.
Diesel has also been reduced from GH¢15.95 to GH¢15.35 per litre.
Another major player, Star Oil, has told JOYBUSINESS it will soon cut prices at the pumps. The company stated petrol is likely to be sold at the price floor announced by the National Petroleum Authority (NPA).
Star Oil has also dropped the price of petrol from GH¢13.85 to GH¢12.79. Diesel is selling at GH¢14.95, down from the price quote of GH¢15.93 on June 16 2026.
Several other OMCs have also indicated they will move quickly to reduce prices.
There are currently more than 200 OMCs operating in Ghana.
According to the NPA, no OMC should sell a litre of petrol for less than GH¢12.79. This follows the regulator’s announcement of new price floors for the first pricing window of July 2026, representing a reduction from GH¢13.39 in June.
The NPA also reduced the minimum price of diesel from GH¢15.11 to GH¢13.54 per litre, representing a 10.4% decline.
Liquefied Petroleum Gas (LPG) also recorded a significant reduction, with the minimum selling price falling from GH¢13.23 to GH¢10.11 per kilogram, a decrease of GH¢3.12 or 23.6%.
Data from the Chamber of Oil Marketing Companies (COMAC) indicates that petrol prices are projected to decline by between 1.94% and 9.31%, potentially bringing the pump price to around GH¢14.14 per litre.
Diesel is expected to fall by as much as 10.20%, with a litre projected to sell at about GH¢15.29.
LPG is projected to decline by between 24.50% and 26.86% per kilogram.
COMAC described the latest development as the steepest two-week decline in fuel prices since the COVID-19 oil market collapse in 2020.
