GOIL, Star Oil cut fuel prices as May pricing window begins

Some Oil Marketing Companies (OMCs), including GOIL and Star Oil, have started reducing fuel prices at the pumps as the first pricing window for May opens, reflecting a slight easing in Ghana’s downstream petroleum sector.

GOIL has lowered its petrol price to GH¢13.25 per litre, a marginal drop from GH¢13.27 in the previous pricing window. Diesel prices have seen a more notable decrease, falling by 44 pesewas to GH¢15.66 per litre. However, its premium product, Super XP 95, remains unchanged at GH¢15.77 per litre.

Similarly, Star Oil has adjusted its prices, with petrol now selling at GH¢13.25 per litre, also down by 2 pesewas. Diesel has recorded a bigger reduction, dropping by 55 pesewas to GH¢15.55 per litre, while its RON 95 product remains steady at GH¢14.67 per litre.

These price changes align with expectations of a modest decline in fuel costs for the May pricing window, largely influenced by lower global oil prices and ongoing government–industry measures aimed at easing the burden on consumers.

Meanwhile, the National Petroleum Authority (NPA) has slightly adjusted the price floors for petrol and diesel. Petrol is now set at a minimum of GH¢13.25 per litre, down from GH¢13.27, while diesel’s floor price has dropped significantly to GH¢14.30 per litre from GH¢16.10.

In contrast, the price floor for LPG has increased sharply to GH¢13.02 per kilogram, up from GH¢10.79.

The NPA has directed all OMCs and LPG marketers to adhere to these price floors under its pricing guidelines, noting that the figures do not include additional costs such as international trading premiums and operational margins, which remain subject to market conditions.