- OMCs like, Star Oil, Allied Oil, and Zen Petroleum, have reduced fuel prices for the second time in June
- Intense market competition is driving a price war in Ghana’s downstream petroleum sector
- While petrol prices are falling, diesel has seen a slight increase
Some Oil Marketing Companies (OMCs) have once again reduced fuel prices at the pumps, marking the second downward adjustment during the June pricing window.
The recent price cuts are largely driven by fierce competition among leading OMCs, sparking what industry observers describe as a price war.
Market leader Star Oil slashed petrol prices on June 19, 2025, from GH¢10.99 to GH¢10.80 per litre, while diesel dropped from GH¢12.77 to GH¢12.13 per litre.
Allied Oil is also set to further reduce its prices by June 20, 2025, having already cut petrol from GH¢10.97 to GH¢10.75 per litre on June 16. Similarly, Zen Petroleum now offers petrol at GH¢10.75 per litre.
However, despite the general decline in prices, a closer look reveals that diesel prices have inched up slightly since June 16, though the exact cause remains unclear.Under the fuel price deregulation policy implemented in 2015, prices are largely influenced by market forces and international oil benchmarks. This competitive framework continues to drive fluctuations at the pumps.Some OMCs have cautioned that pump prices could rise from July 1, 2025, if the ongoing Israel-Iran conflict in the Middle East persists. The crisis has already pushed crude oil prices from $66 to $76 per barrel.
However, industry analysts note that a continued strengthening of the Ghana cedi may help cushion the impact of rising global oil prices.
Fuel prices have been revised downward over six times this year, largely due to the cedi’s strong performance, according to market data.
