• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

OMCs Slash Fuel Prices Again Amid Fierce Market Competition

2 months ago
in Economy, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
74
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

OMCs Slash Fuel Prices Again Amid Fierce Market Competition

Some Oil Marketing Companies (OMCs) in Ghana have again reduced prices of petroleum products at the pumps, marking the second downward adjustment within the second pricing window of June 2025.

The price cuts, according to sources, are being driven largely by stiff competition among major market players, as a price war intensifies within the downstream petroleum sector.

Price Reductions Across Board

Market leader Star Oil on Wednesday, June 19, reduced the price of petrol from GH₵10.99 per litre to GH₵10.80. Diesel prices were also slashed from GH₵12.77 to GH₵12.13 per litre.

Another key player, Allied Oil, is also set to implement further price cuts effective Thursday, June 20. The company, which was previously selling petrol at GH₵10.97 per litre as of June 16, has now reduced its pump price to GH₵10.75.

Zen Petroleum has also adjusted its petrol price downward, matching Allied’s price of GH₵10.75 per litre.

RelatedPosts

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

However, a closer look at recent pricing trends indicates a marginal increase in diesel prices across some pumps since June 16. The specific factors contributing to this marginal rise remain unclear.

Impact of Deregulation and Cedi Strength

The persistent price adjustments underscore the influence of Ghana’s Price Deregulation Policy introduced in 2015, which sought to allow market competition—alongside global price trends—to determine pump prices.

Industry watchers note that the Ghana cedi’s recent appreciation has been instrumental in cushioning domestic fuel prices, with prices at the pumps declining more than six times in recent months.

Possible Upward Adjustment in July

Despite the current reductions, some OMCs have indicated that prices may rise beginning July 1 if geopolitical tensions in the Middle East, particularly the ongoing conflict between Israel and Iran, persist.

Since the onset of the conflict, international crude oil prices have surged from $66 to about $76 per barrel, raising concerns over future pricing volatility.

Nonetheless, some analysts believe further strengthening of the Ghana cedi could offset the impact of a projected 5% or more increase in global crude prices, helping maintain relative stability at the local pumps.

Tags: fuel pricesMarket CompetitionOMCsOMCs Slash Fuel Prices Again Amid Fierce Market Competition

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

CHAN 2024: Senegal Edges Sudan on Penalties to Claim Third Place

Lands Minister Initiates Repeal of L.I. 2462 to Protect Reserves and Combat Galamsey

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

African Athletes Shine in 2025 Diamond League: A Celebration of Talent

BoG Designates Digital Credit Services as Non-Bank Financial Service

Trending

Features

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

August 30, 2025

Ghana Warns of Rising Google Maps Brand Impersonation Scams The Cyber Security Authority (CSA) has issued a...

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

August 30, 2025

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

August 30, 2025

CHAN 2024: Senegal Edges Sudan on Penalties to Claim Third Place

August 30, 2025

Lands Minister Initiates Repeal of L.I. 2462 to Protect Reserves and Combat Galamsey

August 30, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.