Star Oil reduces petrol prices to GH₵16.45 per litre

Several Oil Marketing Companies (OMCs) in Ghana have commenced a reduction in retail fuel prices for the second pricing window of October 2026. Star Oil, one of the prominent distributors in the country, has led the downward adjustment by lowering its petrol price from GH₵16.64 to GH₵16.45 per litre. This move provides a marginal reprieve for motorists and transport operators as the industry reacts to recent shifts in both domestic and international market dynamics. While petrol and diesel prices are trending downward, consumers using Liquefied Petroleum Gas (LPG) are facing a different reality. Domestic gas prices are projected to rise significantly, with an expected increase of over 18%. This surge could see LPG prices reach approximately GH₵20.60 per kilogramme, driven largely by international market pressures. The diverging paths of transport fuels and cooking gas highlight the complex pricing environment currently managed by the Chamber of Oil Marketing Companies and the National Petroleum Authority (NPA). The recent price adjustments are occurring against a backdrop of high global energy costs, with crude oil prices averaging US$126.73 per barrel. Domestically, the Ghanaian cedi has continued to depreciate against the US dollar, adding further pressure to the local pricing structure. Despite these headwinds, the reduction in petrol prices at the pump is being attributed to a combination of government interventions and intense competition among the various OMCs operating in the Ghanaian market. Looking ahead, the final cost of fuel at retail outlets across the country will continue to be influenced by the NPA's minimum pricing regulations and the ongoing volatility of the exchange rate. While the current window offers some relief at the pump, the anticipated spike in LPG costs remains a point of concern for households and small businesses. Analysts suggest that future price stability will depend heavily on the cedi's performance and the stability of global oil supply chains in the coming weeks.