Some Oil Marketing Companies (OMCs) have started reducing prices of petroleum products at the pumps from today November 17, 2023.
TotalEnergies Ghana is selling a litre of Petrol for ₵12.80 from its old price of ₵12.99.
Diesel is also selling at ₵13.30 per litre. It was selling for ₵13.70 per litre on November 2, 2023.
PETROSOL is selling a litre of Petrol at ₵11. 99 pesewas from the old price of ₵12.45.
Diesel on the other hand is going for ₵13.15 a litre from the old price of ₵13.40 a litre.
Some of the companies have linked the reduction in the prices to the decline in crude oil prices on the global market.
More oil firms are expected to review their prices later in the day.
Joy Business is learning that, if the cedi had been firmly stable against the US Dollar, the reduction in prices would have been bigger than what is being recorded at pumps currently.
The adjustments were made on Thursday November 16, 2023.
Source: Myjoyonline