Some Oil Marketing Companies (OMCs) in the country have started reducing prices of fuel at the pumps in the various fuel stations.
The prices have reduced more than thrice within the last month.
This has been attributed to the fall in crude oil prices on the world market and the stability of the Ghanaian cedi which has made Oil Marketing Companies to review their pump prices downward.
In November 2022, prices of fuel were selling at 80.96p per gallon for petrol and Diesel was going for Gh105.75p per gallon
However, the price reduced on November, 15, 2022 from Gh75.70 per gallon for petrol and diesel Gh92.30 per gallon
On November 30, 2022 Prices of fuel again went down. Whereas petrol was 73.20 per gallon, diesel was selling 89.00 per gallon.
The new month which is getting to the end of the year, petrol is being sold 69.40 per gallon and diesel 84.90 per gallon.
This significant reduction is putting a lot of smile on the faces of the citizens with some calling for the immediate reduction of transport fares in the country.