Fuel Prices Drop for the Third Time
Global Oil Price Slump and Cedi Stability Drive Marginal Reductions
For the third consecutive time, fuel prices at the pumps have recorded a slight drop, offering some relief to consumers.
This adjustment comes just two days into the second pricing window of March, with Total Energies leading the charge.
The company has reduced the cost of petrol and diesel from GHS15.79 to GHS15.49 per liter.
The consistent decline, which began in the second pricing window of February, is largely attributed to falling global crude oil prices and the Ghanaian cedi’s relative stability against the US dollar.
The Chamber of Oil Marketing Companies (COMC) had predicted this reduction, citing the drop in crude oil prices from $75.49 to $71.94 per barrel—a 4.16% decrease.
Experts believe that this trend may continue, with other oil marketing companies likely to adjust their prices in the coming days. The reduction also reflects global economic uncertainties influenced by escalating trade tensions.
