Ghana’s leading indigenous Oil Marketing Company, GOIL, has announced a reduction in the pump prices of both types of gasoline (petrol) and gasoil (diesel) at all its retail outlets across the West African nation.
A litre of petrol is now selling at Gh16.82 while diesel is selling at Gh20.50 per litre.
Previously, a litre of petrol sold at Gh17.99 while diesel was selling at Gh¢23.49 per litre.
This means that a litre of petrol has been reduced by Gh¢1.17 while diesel saw a reduction of Gh¢2.99 per litre.
Fuel prices are reviewed every two weeks in the Republic of Ghana, unlike some countries in West Africa where it is done monthly.
The second pricing window ends today, Tuesday, November 15, 2022, and prices of fuel are expected to be reviewed by the oil marketing companies.
It is not yet clear what occasioned the reduction but energynewsafrica.com can report that the depreciation of the Ghanaian cedi against the major international currencies like dollars has been slowed over the last few days.
Crude oil prices on the international market have also been hovering below $100 per barrel.
As of Tuesday morning, Brent was trading at $92.78 while WTI was trading at $85.26.
Many consumers have been lamenting over the rising cost of fuel in Ghana and the reduction in fuel prices will come as good news to them.
