Major oil marketing companies in Ghana adjust fuel prices as competition intensifies

Major oil marketing companies (OMCs) in Ghana have begun adjusting their pump prices in the latest petroleum pricing window, with GOIL and Star Oil announcing new rates as competition in the downstream fuel market intensifies.

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The price changes come amid rising global crude oil prices and regulatory directives from the National Petroleum Authority (NPA) affecting the pricing structure of petroleum products across the country.

Market leader Star Oil announced revised fuel prices effective March 17, 2026 and in a message to customers, the company informed consumers to take note of the revised fuel prices.

Under the new pricing: Petrol (Super) – GH¢12.29 per litre, Diesel – GH¢14.99 per litre, RON 95 (premium petrol) – GH¢13.59 per litre.

The adjustment follows an earlier review that had placed petrol at about GH¢12.49 per litre and diesel at GH¢15.99, before the latest reduction in the current window.Also, GOIL has also reviewed its prices across its filling stations nationwide.

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Under GOIL’s new rates: Super XP (Petrol) – GH¢12.40 per litre, Diesel XP (Diesel) – GH¢15.69 per litre, Super XP 95 (Premium petrol) – GH¢14.35 per litre. The company attributed the adjustments to developments in the global energy market.

GOIL also noted that the pricing changes comply with a directive from the National Petroleum Authority (NPA) requiring oil marketing companies to suspend differential pricing, meaning all stations must sell fuel at uniform prices nationwide.

The latest adjustments follow changes to the price floors for petroleum products under Ghana’s deregulated fuel pricing system.

Data from the Chamber of Oil Marketing Companies (COMAC) indicates that petrol’s price floor increased from about GH¢10.46 to GH¢11.57 per litre, while diesel’s floor rose sharply to about GH¢14.35 per litre.

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The price floor represents the minimum price oil marketing companies are allowed to sell fuel under the regulatory framework.

The pricing decisions by GOIL and Star Oil reflect intensifying competition among oil marketing companies as they attempt to attract consumers.

Other OMCs are yet to announce their revised pump prices for the current pricing window.