In a welcome relief to motorists, some Oil Marketing Companies (OMCs) have begun reducing fuel prices at the pumps, marking the first decline this year. Apexnewsgh reports
The price drop comes after three consecutive increases since January.
Total Energies has taken the lead, slashing the price of both petrol and diesel to GH¢15.99 per litre, down from GH¢16.15 in the first pricing window of February. Notably, Total Energies had maintained its price at GH¢16.15 while other OMCs increased theirs in the first pricing window.
Shell has also followed suit, reducing the price of diesel to GH¢15.99 per litre, down from GH¢16.09. The price of petrol has also dropped from GH¢16.23 to GH¢15.89 per litre in the second pricing window of the month.
Industry analysts attribute the reduction to a decline in crude oil prices on the international market, alongside other market dynamics influencing local pricing.
This development is expected to bring relief to motorists and potentially slow down the rising cost of living.
Source: Apexnewsgh.com
