Prices of petroleum products have recorded a marginal drop for the third consecutive time.
This comes two days into the start of the second pricing window for March.
GOIL, the leading oil marketing company has lowered its prices for both petrol and diesel. Petrol is currently selling at GH¢14.99 and diesel is selling at GH¢15.42.
A market scan by GhanaWeb Business showed that Total Energies had also adjusted its price, lowering the price of both petrol and diesel from GH¢15.79 per litre in the first pricing window of March to GH¢15.49 per litre for the second pricing window of March.
The reductions are being attributed to drop in crude oil prices on the international market and the recent relative stability of the cedi against the US dollar.
This signals a potential trend, with other oil marketing companies expected to follow suit in the coming days.
The Chamber of Oil Marketing Companies (COMC) and the Institute for Energy Security (IES) had earlier projected a potential drop in fuel prices in the second pricing window for March, driven by a decline in global crude oil costs.
Data from the Chamber revealed that crude oil prices fell from $75.49 per barrel to $71.94 per barrel, marking a 4.16% decrease.
Source: www.ghanaweb.com
