The Dangote Petroleum Refinery has slashed the ex-gantry price of its premium motor spirit, also known as petrol, to N699 per litre.According to sources at the refinery, the price of the product was reduced by N129 from the previous price of N828 per litre. “The refinery reduced its petrol price to N699 per litre,” a...
Category: Fuel Price
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Fuel prices set to drop for Christmas – Oil Marketers Board Chair assures
Board Chairman of the Chamber of Oil Marketing Companies, Gabriel Kumi, says Ghanaians should expect cheaper fuel this Christmas as global product prices continue to fal He says the indicators already point to clear reductions across petrol, diesel and LPG, and consumers will feel the relief from mid-December. Speaking on PM Express Business Edition, he...
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Fuel prices set to rise slightly from today, Dec 1
The price of petroleum products is expected to increase marginally at the pumps from today, December 1.The price of petroleum products is expected to increase marginally at the pumps from today, December 1. The projection was captured in the latest Chamber of Oil Marketing Companies (COMAC) outlook report, which guides the pricing decisions of oil...
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Petrol Imports From Malta Drop By 60% After Dangote Refinery
Nigeria’s imports of refined petroleum products from Malta have plunged by 60 percent in 2024, signalling a shift in the country’s downstream fuel supply dynamics as the Dangote refinery ramps up output. Data from TradeMap show that Nigeria’s imports of Malta petroleum oils and oils obtained from bituminous minerals dropped to approximately $818 million in...
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COMAC says Fuel Prices Expected to Rise as Global Crude Oil Costs Increase
The Chamber of Oil Marketing Companies COMAC says Crude oil prices recorded a modest rise in mid-November 2025, a development expected to ease the cedi’s recent gains in the forex market. According to COMACs monthly pricing report, International benchmark prices increased by 2.95%, moving from $62.82 to $64.67 per barrel. Data from the petroleum market...
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Nigeria hits 1.401 million bpd in October, fails OPEC quota for third month.
Nigeria’s crude oil production climbed marginally to 1.401 million barrels per day (bpd) in October, up from 1.39 million bpd recorded in September. This is according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR) released on Wednesday. Despite the modest increase, the report shows that Nigeria fell short of meeting...
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Downstream petroleum market at a crossroads: Price pressures, competition shifts, and the urgent call for structural reform
Ghana’s downstream petroleum industry has grown into one of the most competitive and complex fuel markets in Africa. Over the past decade, reforms, private participation, and steady investments have redefined the way petroleum products are sourced, distributed, and sold across the country. With more than one hundred and eighty licensed Oil Marketing Companies(OMCs) operating from...
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Tax evasion and product diversion distort fuel prices – Star Oil CEO exposes industry loopholes
Chief Executive Officer of Star Oil Ghana, Philip Tieku, has exposed how widespread tax evasion and fuel product diversion are distorting prices in Ghana’s petroleum downstream sector.He said the illegal activities have created unfair competition and raised questions about the effectiveness of current regulatory measures, including the introduction of a price floor. “When the price...
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GOIL PLC Alerts Public to Fake Video Impersonating CEO
Accra, Ghana — [Date] — GOIL PLC has issued a strong warning to the public over a fraudulent video circulating on social media that falsely portrays its Group CEO and Managing Director, Mr. Edward Abambire Bawa, announcing a so-called “government-backed gold project” and “customer reward scheme.” In a statement released by the company, GOIL described...
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Fuel price cuts reflect economic recovery – COPEC
The Chamber of Petroleum Consumers (COPEC) has lauded the latest round of fuel price reductions across the country, describing the development as a strong signal of improving economic fundamentals.In the first pricing window of November, leading Oil Marketing Company, Star Oil, slashed petrol prices to GH¢11.97 per litre and diesel to GH¢12.47 per litre one...