NEW YEAR: Good news from OMCs to Ghanaians
Some major Oil Marketing Companies (OMCs) have begun reducing prices of some petroleum products at the pumps.
Market leader, GOIL has announced a reduction in prices by more than 8%.
GOIL has reduced the price of diesel by ₵1.50, selling the product at ₵14.60 per litre.
Petrol on the other hand is selling for ₵12.40 representing ₵1 cedi drop per litre.
The reduction, by GOIL, is in line with the two week review in prices of petroleum products at the pumps.
TotalEnergies has also announced price reduction.
Other oil marketing firms are also expected to adjust prices later today.
Competition is expected to drive the prices down as the companies compete to get more customers.
There are currently more than 100 oil marketing firms in the country.
Fuel prices at the pumps across the country have seen a slump on Monday, January 2.
The prices reduced at the last review ahead of the Christmas festivities.
Just two days into the New Year, major oil marketing companies (OMCs) have reduced their prices.
Goil, for example, reduced its prices at the pumps Monday morning.
From GH¢13.40, petrol dropped to GH¢12.40 while Diesel dropped to GH¢14.60 from GH¢15.85.
