The Chamber of Petroleum Consumers Ghana (COPEC) has welcomed recent reductions in fuel prices by some Oil Marketing Companies (OMCs) and is urging others yet to adjust their prices to act swiftly within the current pricing window to ensure consumers fully benefit from favourable market conditions.
According to the Executive Secretary of COPEC, Duncan Amoah, the downward adjustments observed at selected fuel stations demonstrate responsiveness to developments on the international petroleum market and the domestic pricing framework.
The consumer advocacy group believes such actions are critical at a time when households and businesses are grappling with high living and operational costs.
“COPEC calls on OMCs that have not yet reviewed prices within the current window to do so promptly, ensuring pump prices reflect prevailing market conditions and serve the broader interest of consumers.”
Duncan Amoah, Executive Secretary of COPEC
Price Variations Highlight Market Dynamics
COPEC’s analysis of current pump prices reveals notable differences across fuel stations, underscoring the competitive dynamics within Ghana’s downstream petroleum sector. Petrol, commonly referred to as Super, is currently selling at GH¢10.56 per litre at Star Oil, GH¢10.99 at GOIL, and GH¢11.68 at TotalEnergies.
These figures represent a price difference of about 4.1 percent between Star Oil and GOIL, and as much as 10.6 percent between Star Oil and TotalEnergies. Diesel prices show a similar spread, with Star Oil selling at GH¢11.56 per litre, GOIL at GH¢11.96, and TotalEnergies at GH¢12.38.
Premium petrol (RON 95) also reflects the same trend, with prices ranging from GH¢12.96 per litre at Star Oil to approximately GH¢13.97–GH¢13.98 at both GOIL and TotalEnergies.
Mr. Amoah noted that these variations demonstrate that some OMCs have already aligned their prices with market realities, while others still have room to adjust downward to remain competitive and consumer-friendly.
Consumer Relief at the Centre of Pricing Decisions
Beyond market competition, COPEC emphasised that fuel pricing has a direct impact on the cost of living, transport fares, and overall economic activity.
The chamber argued that timely and fair pricing adjustments are essential to easing financial pressure on ordinary Ghanaians.
“We further stress that fair and responsive fuel pricing is essential to alleviating financial pressures on households, transport operators, and businesses.”
Duncan Amoah, Executive Secretary of COPEC
Fuel prices in Ghana influence not only private transportation costs but also the prices of goods and services, given the country’s reliance on road transport for the movement of people and commodities. COPEC believes that prompt price reductions can therefore have a ripple effect across the economy.
Call for Transport Fare Adjustments
In addition to engaging OMCs, COPEC has extended its call to commercial transport operators, urging them to pass on the benefits of lower fuel prices to commuters. This appeal includes traditional commercial drivers as well as operators on digital ride-hailing platforms.
The chamber specifically mentioned services such as Bolt, Uber, and Yango, encouraging them to begin reviewing and adjusting their fares in line with the current reductions in ex-pump fuel prices.
COPEC argued that it would be unfair for consumers to continue paying high transport fares when fuel costs, a major component of transport pricing, are declining. According to Mr. Amoah, price relief at the pumps must translate into real savings for commuters.
COPEC reaffirmed its commitment to monitoring fuel price movements across the country and engaging all stakeholders to promote fairness and transparency in the downstream petroleum sector.
“Consumers must not be denied the benefit of price reductions when international and local market conditions become favourable.”
Duncan Amoah, Executive Secretary of COPEC
He added that sustained engagement with regulators, OMCs, and transport operators is necessary to ensure that price adjustments are not selective or delayed in ways that disadvantage consumers.
As global crude oil prices and exchange rate dynamics continue to influence Ghana’s fuel market, COPEC believes vigilance and responsiveness will remain crucial. The chamber is optimistic that continued market discipline and competition among OMCs will help stabilise prices and protect consumers.
For now, COPEC’s message is clear: fuel price reductions must be timely, transparent, and fairly passed on to consumers across the value chain, from the pump to public transport fares.
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