In a relief for petroleum consumers, fuel prices are expected to drop in the first pricing window of March. According to the Chamber of Oil Marketing Companies (COMAC), petrol prices are anticipated to decrease by 0.6%, while diesel and Liquefied Petroleum Gas (LPG) prices are expected to drop by 0.3% each.
The Chief Executive of COMAC, Dr. Riverson Oppong, attributed the adjustment to a combination of factors, primarily the decline in international crude oil prices and the stability of the Ghanaian Cedi against the US dollar.
Already, some oil marketing companies have begun to adjust their prices. Shell, for instance, has reduced its prices, selling diesel at GH¢15.99 and petrol at GH¢15.89 per liter.
This decrease in fuel prices is expected to bring relief to consumers who have been bearing the brunt of fuel costs. As the prices drop, commuters, drivers, and businesses that rely heavily on fuel can expect to see savings.
Ruth Abla ADJORLOLO
