Ghanaian consumers may see lower pump prices this week as oil marketing companies (OMCs) roll out new rates for the second pricing window of October. Petrol is projected to decline by almost 2%, while diesel could fall by 3.32%, according to industry estimates.
On a cash‑purchase basis, petrol is expected to sell at GH¢17.67 per litre and diesel at GH¢19.30 per litre. These figures come after a first window in which OMCs largely kept prices unchanged, supported by government interventions such as the Sentuo Oil Refinery and Tema Oil Refinery agreements to maintain supply prices to bulk distributors and the suspension of the GH¢1‑per‑litre dumsor levy on diesel for October.
The new pricing window sets a minimum price of GH¢16.09 per litre for petrol and a floor price of GH¢17.09 per litre for diesel. Actual pump prices may still vary across outlets, depending on the additional costs and margins applied by individual OMCs.
Despite the cedi’s recent depreciation, which is expected to limit the gains from lower international petroleum product prices, the reduction in local pump prices is seen as a welcome relief for motorists and businesses alike.
Industry analysts note that the interventions came amid earlier price increases that had sparked fears of pump prices reaching or exceeding GH¢20 per litre. The forthcoming price adjustments are therefore viewed as a stabilising measure for the fuel market.
Consumers can expect the new rates to take effect at the start of the second pricing window, with OMCs required to publish the updated prices on their websites and at their outlets. The Ministry of Energy will monitor compliance and may intervene if prices deviate significantly from the set minimums.
Watch for the official release of the updated price list from the OMCs later this week, which will provide the exact figures for each petrol station across the country.
