Business and Finance News: Fuel Prices Drop: Petrol at GH¢12.99 and Diesel at GH¢14.49
In recent developments, several Oil Marketing Companies (OMCs) have implemented substantial reductions in fuel prices as the second pricing window of September commences. This adjustment represents the fourth consecutive decrease in fuel prices following the initial drop observed in August.
One notable change comes from Goil, the state-owned oil company, which has cut the price of petrol (Super XP) from GH¢14.16 to GH¢12.99. Similarly, the price of diesel (Diesel XP) has decreased from GH¢14.70 to GH¢14.49.
These reductions are attributed to a combination of factors, including the continued decline in international prices for refined petroleum products and the relatively stronger performance of the Ghanaian Cedi in comparison to the previous pricing window.
The current trend of falling fuel prices is expected to influence other OMCs to adjust their prices downward in the near future. This ongoing decrease in fuel costs reflects broader market conditions and economic factors that impact the pricing of petroleum products both locally and globally.
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Source: Citinews
