Early competition among Oil Marketing Companies (OMCs) in Ghana has intensified at the start of the first April pricing window, as firms adjust strategies in line with the price floor set by the National Petroleum Authority (NPA).
Both Ghana Oil Company Limited (GOIL) and Star Oil initially raised pump prices on March 31 ahead of the new pricing window. GOIL aligned its prices directly with the NPA’s prescribed minimum, while Star Oil set slightly higher rates, with petrol at GH¢13.49 per litre and diesel at GH¢17.97 per litre.
However, following the commencement of the new pricing window, Star Oil has revised its prices downward to match the regulator’s minimum levels, signalling a competitive response as both companies now operate at the price floor.
Star Oil is currently selling petrol at GH¢13.30 per litre and diesel at GH¢17.10 per litre, in line with the NPA’s approved minimum prices for the period.
The regulator has fixed the price floor at GH¢13.30 per litre for petrol and GH¢17.10 per litre for diesel.
Meanwhile, other OMCs are also adjusting their prices in response to broader market conditions and rising global crude oil prices linked to geopolitical tensions in the Middle East.
Market checks indicate that TotalEnergies is retailing petrol at GH¢14.49 per litre and diesel at GH¢18.50 per litre.
Similarly, PETROSOL has set petrol prices at GH¢13.98 per litre and diesel at GH¢17.98 per litre, with these adjustments implemented on March 31 ahead of the new pricing window.