fuel Archives - Wontumi Online

16 Sep

Fuel Price Reduction: Diesel At GH₵12.55, Petrol GH₵13.27 A Litre

Wontumi2Businessfuel

Some Oil Marketing Companies (OMCs) have started reducing prices of petroleum products at the pumps from today, September 16, 2024. Star Oil Ghana is selling a litre of petrol at GH₵12.55, indicating a one cedi drop. This represents a 7.9 percent decline. The company is also selling a litre of diesel at GH₵13.27. This represents a 4.18 percent drop, indicating a 58 pesewas reduction from the previous price. Star Oil is also selling petrol at GH₵12.31 and diesel for GH₵12.99 at some specific stations as part of a strategy to attract more customers. This is in line with the National…

02 Sep

Fuel Price Reduction: Petrol At GH₵14.16, Diesel GH₵14.70 A Litre

Wontumi2Businessfuel

Some oil marketing firms have started reducing prices of petroleum products at the pumps from today September 2, 2024. Market leader GOIL is selling at litre of petrol at GH₵14.16. This represents a 6 pesewas drop per liter and 0.42 percentage point reduction per litre of petrol. Diesel is also going for GH₵14.70 from its old price of GH₵14. 90. This represents 20 pesewas drop in prices, and 1.34 percentage points reduction per liter of diesel. The second biggest Oil Marketing Firm, based on half year industry data, Star Oil has also reduced prices of its petroleum products. The company…

28 Jun

Fuel Prices To Go Up July 1 – COPEC

Wontumi2Newsfuel

The Chamber for Petroleum Consumers (COPEC) has projected a rise in fuel prices in the first pricing window of July 2024. Indications are that the retail price of petrol, diesel, and liquefied petroleum gas (LPG) is expected to increase at the pumps across the country. The price increases, according to COPEC, are primarily due to the further drop of the Dollar to Cedi rate from an average of $1:GH¢14.4788 to $1:GH¢15.2779 ( -1.89%). COPEC projects that the retail price of petrol is expected to increase by 2.17 percent of the current mean pump retail price of GH¢14.17 per litre to…

17 May

Depreciating Cedi To Erode Projected Fuel Price Reduction

Wontumi2Businessfuel

Despite a decline in global petroleum prices, fuel consumers in Ghana are unlikely to benefit from the expected decrease in pump prices due to the rapid depreciation of the cedi. The second petroleum pricing window for May began on Thursday, May 16, with analysts predicting a marginal decrease in prices, but the cedi’s depreciation is expected to offset this decrease. International market trends show a significant decline in refined petroleum products, with petrol and diesel prices falling by 5.68% and 4.51%, respectively, according to the Institute of Energy Security. However, the cedi’s depreciation, which has lost 8-10% of its value…

15 May

Fuel Prices Expected To Dip Slightly By May 16 – IES Predicts

Wontumi2Businessfuel

The Institute for Energy Security (IES) has projected a slight decline in fuel prices starting May 16, 2024. IES attributes this to the decrease in the prices of refined petroleum products on the global market, surpassing the depreciation of the cedi. According to the IES, Gasoline (petrol), Gasoil (diesel), and Liquified Petroleum Gas (LPG) have experienced reductions of approximately 5.68%, 4.51%, and 4.72% respectively on the international market. "In the second pricing-window for May 2024, ex-pump is expected to fall given the reductions recorded for refined petroleum products on the international market, which is wider than Ghana cedi depreciation," the…

22 Apr

Fuel Prices Won’t Cross GHC18 Mark Next Week – CBOD Assures Consumers

Wontumi2Businessfuel

The Ghana Chamber of Bulk Oil Distributors (CBOD) has allayed the fears of consumers that fuel prices may go up astronomically by the end of April this year. The Chamber said its assessment of the variables that influence prices at the pumps, particularly the exchange rate, had been stable in the last week, adding that the situation may not have any huge impact on prices of petrol, diesel, and Liquefied Petroleum Gas (LPG). Speaking to journalists in Accra, Dr Patrick Kwaku Ofori, Chief Executive Officer, CBOD, dismissed reports claiming that prices of petrol and diesel would hit at least GHC18…

03 Feb

OMCs Start Marginal Increase In Fuel Prices

Wontumi2Businessfuel

Some Oil Marketing Companies (OMCs) have reportedly commenced a marginal increase in the prices of petroleum products at fuel stations. This increase in prices started on February 2, 2024. Market Leader, GOIL, accoridng to a report by Joy Business, is now selling a litre of diesel at ¢13.49, while petrol is priced at ¢12.69 per litre. These adjustments mark a slight increase compared to the prices reported approximately four weeks ago. It is reported that other OMCs are currently in the process of upward price adjustments at the pumps and are expected to implement these changes in the coming hours.…

13 Dec

Kidi Raises Alarm Over Quality Of Fuel In Ghana

Wontumi1Showbizfuel, KiDi

Ghanaian singer, Kidi has taken to Twitter to express concerns about sub-standard fuel in the country affecting vehicles in the country. In a tweet, he stated, “This bad fuel ruining engines and plugs is becoming a serious pandemic. Something needs to be done ASAP. Why are you selling people bad fuel? What is the reason?” His tweet has ignited a discussion on social media drawing attention to the situation which is affecting motorists across the country. Numerous users have shared their own experiences, echoing Kidi’s frustration and calling for urgent action to address the issue. Check out the tweet below:

11 Dec

NPA To Label Fuel Pumps Based On Octane Grades

Wontumi1Businessfuel, octane grades

Head of Quality Control at the National Petroleum Authority (NPA), Ubeidalah Saeed, says the Authority has sanctioned the labeling of pumps for petrol based on their octane grades. This, he says, has become necessary due to recent concerns about the quality of petrol being sold at the pumps. Several Ghanaians had shared pictures of their damaged spark plugs on social media which they attributed to the tainted petrol on the Ghanaian market. Reacting to the situation on Joy FM’s Super Morning Show, Ubeidalah Saeed who says he has also been a victim noted that the NPA has been working tirelessly…

17 Nov

NPA Upgrades Standard For Petrol Imported Into Ghana To Meet EURO IV & EURO V Standards

Wontumi1Businessfuel, National Petroleum Authority (NPA)

The National Petroleum Authority (NPA) has upgraded the standard for gasoline, commonly known as petrol or super used in the country. This follows the review of the Ghana Standard for gasoline (GS140:20220) to align with the requirements of regular grade gasoline with EURO IV and ECOWAS standards for gasoline. The new standard also requires that premium grade gasoline requirements comply with EURO V standard. The regulator of the downstream petroleum sector has, therefore, directed that effective January 2024, all gasoline [petrol] imported into Ghana must meet EURO IV & EURO V for regular and premium grades respectively. “The standard has…