Fuel Prices Decline Again Amidst Market Competition – Petrol Now GH₵10.75

Several Oil Marketing Companies (OMCs) have once again lowered fuel prices at the pumps, marking the second reduction within this week during the second pricing window of June.

Masemtvgh.com has gathered that this latest drop is largely driven by intensified competition among key OMCs, leading to what appears to be a price war in the sector.

Competitive Pricing in the Petroleum Sector

Star Oil, a leading OMC, reduced its petrol price on June 19, 2025, from GH₵10.99 to GH₵10.80 per litre. The company also slashed its diesel price from GH₵12.77 to GH₵12.13 per litre.

Another significant player, Allied Oil, is expected to lower its prices even further starting June 20, 2025. On June 16, 2025, Allied Oil priced petrol at GH₵10.97 per litre, but has since reduced it to GH₵10.75.

Zen Petroleum has followed suit, also pricing its petrol at GH₵10.75.

Interestingly, despite these reductions in petrol prices, diesel prices have shown a slight increase since June 16. The exact reasons behind this variation remain uncertain.

The 2015 petroleum deregulation policy was designed to allow market forces and competition, in addition to global oil trends, to influence local pump prices.

Future Trends

Some OMCs have indicated that fuel prices might rise from July 1, 2025, if the ongoing conflict between Israel and Iran continues. The Middle East crisis has already pushed crude oil prices from $66 to $76 per barrel.

However, analysts suggest that a stronger Ghana Cedi could potentially cushion consumers against the projected 5% or higher rise in global crude prices.

Fuel prices at the pumps have dropped over six times recently, with data pointing to the cedi’s appreciation as a significant factor in the downward trend.