Fuel price reduction; 1-4%

• Posted on November 30, 2016
• by Nana Kwesi Coomson
• Comment

Barely a day to the end of the final pricing window for the month of November, prices of fuel across most oil marketing companies (OMCs) have dropped by between 1 and 4.23%, the Chamber of Petroleum Consumers, Ghana has announced

A press statement released by Duncan Amoah, Executive Secretary for the Chamber on Wednesday, 30 November said: “Most oil marketing companies began the current pricing window with prices per litre averaging some GHS3.680, though others had much higher prices at the pumps. The steady drop of world oil prices, which currently averages $44/litre from previous levels of around $46.35/litre, is believed to be largely responsible for the current marginal reductions across most pumps in the country.”

“So Energy is currently dispensing the lowest prices on the market at 3.55/litre of PMS (petrol) followed keenly by Radiance Oil with 3.560/litre. Petrosol, which saw one of the biggest reductions, moved from a previous 3.745/litre to 3.599, same as Shell and Total, who currently are trading at 3.599 and 3.598, respectively. Engen Oil was previously at 3.680 for PMS and 3.670 for AGO but currently trading at 3.590 for PMS and 3.590 for AGO.

“Goil maintained its pump prices when markets moved up from 3.630 to 3.750/litre previously and has currently reduced further down to 3.599, representing about 0.85399%. Pump prices at current levels are expected to remain largely unchanged in the first pricing window of the month of December.”

-classfmonline