Fuel prices dip again; Petrol now selling at GH¢10.99 at some pumps
Several Oil Marketing Companies (OMCs) have begun reducing the prices of petroleum products at the pumps, effective this morning, June 16, 2025.
Star Oil, the market leader, is now selling petrol at GH¢11.57 per litre, while the price of diesel remains unchanged at GH¢12.49.
Some selected fuel stations are offering petrol for as low as GH¢10.99 per litre, indicating increasing price competition.
There are strong indications that Star Oil may implement additional price cuts in the coming days, depending on market conditions.
Another major player, Shell, has also adjusted its prices. Petrol is now selling at GH¢11.98 per litre, down from GH¢12.98 on June 3, 2025.
Diesel has seen a marginal drop from GH¢12.89 to GH¢12.85 per litre.
Allied Oil has followed suit, reducing petrol prices from GH¢11.45 to GH¢10.97, and diesel from GH¢12.75 to GH¢12.45 per litre.
Several other OMCs have indicated that they are in the process of reviewing their pump prices and may announce reductions before the close of business today.
The Chamber of Oil Marketing Companies attributes the current downward trend in fuel prices to two key factors: The steady appreciation of the Ghanaian cedi against the US dollar, especially between May 27 and June 12, 2025 and the government’s recent suspension of the GH¢1 levy, which helped prevent an anticipated price increase.
Despite rising crude oil prices on the international market—driven largely by the ongoing Israel-Iran conflict—the strong performance of the cedi has provided some relief to consumers.
Officials from the Chamber have warned, however, that if global crude oil prices continue to rise due to heightened tensions in the Middle East, Ghanaians should prepare for a potential fuel price hike starting July 1, 2025.
In response to these developments, the government has indicated that it may soon announce additional measures to cushion the impact of volatile global oil prices.
This follows a directive from President John Mahama to the Ministers of Finance and Energy to propose strategies to help mitigate the expected economic shocks.