As of January 1, 2024, there have been some decreases in fuel prices at all of the pumps.
Thus far, Star Oil has taken the lead in offering a liter of gasoline for GH¢11.24 instead of GH¢12.69, and a liter of diesel for GH¢11.24 instead of GH¢11.69.
In the upcoming days, more oil marketing companies are anticipated to do the same.
Fuel prices will be lowered for the second time in a row.
The decrease has been ascribed to the cedi’s stability in spite of the joyous festivities.
The cedi is being bought at GH¢12.00 and being sold at GH¢12.20 as of January 1, 2024.
Forty Oil Marketing Companies (OMCs) have had their licenses withdrawn by Ghana’s petroleum downstream regulator for noncompliance with industry norms.
The regulator revealed in a statement in January of this year that 30 OMC licenses had been revoked.
This indicates that the NPA has cancelled 10 more licenses since January.
