Oil Marketing Companies (OMCs) have revised the prices of petroleum products at their respective pumps following the appreciation of the cedi against the US dollar.

The Chamber of Oil Marketing Companies' (COMAC) pricing outlook for the first pricing window of June 2025 projected fuel prices declining effective June 1.

Per reports, a litre of petrol which was selling at GHC13.27 by Goil, Ghana’s largest and wholly indigenous oil marketing company, is now selling at GHC12.52.

A litre of diesel which went for GHC13.87 is now selling at GHC12.98. Their premium product now sells at GHC14.34 from GHC15.27.

Star Oil has also revised its prices. A litre of petrol is now going for GHC11.77 from GHC12.57.

A lire of diesel now goes for GHC12.49 from GHC13.49, whereas premium product still sells at GHC14.89.

Information reaching The Independent Ghana is that Zen Petroleum will soon revise its prices at its pumps.

The cedi continues to appreciate against major trading currencies.

As of Friday, May 30, the average interbank rates used by commercial banks for transactions at the close of business showed the US dollar buying at GH₵10.27 and selling at GH₵10.28.

The British pound is buying at GH₵13.84 and selling at GH₵13.86. The euro is currently being bought at GH₵11.66 and sold at GH₵11.67.

The price cuts will ease the financial burden on consumers and transport operators.

Recently, transport operators reduced their fares by 15% due to the fall in petroleum products.

Should prices continue to drop, this will lead to a further slash in transport fares.