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...
Category: Fuel 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...
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Fuel Prices Drop as OMCs Begin Implementing November Reductions
Some Oil Marketing Companies (OMCs) across Ghana have started reducing prices of petroleum products at the pumps, in line with earlier industry projections of a significant decline from November 1, 2025. Market leader Star Oil has adjusted its pump prices, selling a litre of petrol at GH¢11.59, down from GH¢12.77, while diesel now goes for...
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Tinubu approves 15% import duty on petrol, diesel
President Bola Tinubu has approved the introduction of a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria.The initiative is aimed at protecting local refineries and stabilising the downstream market, but it is likely to raise pump prices.In a letter dated October 21, 2025, reported publicly on October 30, 2025, and...
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Fuel Prices Expected to Fall in October — CBOD Projects Relief for Consumers
The Chamber of Bulk Oil Distributors (CBOD) has projected a decline in fuel prices for the first pricing window of October 2025, citing a drop in international refined petroleum prices and a notable appreciation of the cedi against major trading currencies. In its latest market outlook report covering the period October 16–31, CBOD said the...
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Total petroleum consumption for half year hits 3.6bn litres, despite rising fuel prices
Total consumption of petroleum products for the first half of 2025 has surged to 3.6 billion litres, marking a 17.65% increase compared to 3.07 billion litres recorded in the same period in 2024. This is according to the 2025 Petroleum Analysis Report seen by JoyBusiness, which presents a detailed examination of Ghana’s petroleum supply and...
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Fuel Prices Likely to Rise Again, OMCs Warn
Consumers should brace for further hikes in fuel prices at the pumps in the coming weeks, the Chamber of Oil Marketing Companies (OMCs) has cautioned. Speaking on PM Express Business Edition, on Joy News the Chief Executive of the Chamber, Dr. Riverson Oppong, said the looming adjustments are being driven by sustained increases in international...
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Fuel Prices Up Again as OMCs Adjust Pump Rates
Accra: Fuel prices at the pumps have gone up again as more Oil Marketing Companies (OMCs) adjust their rates, effective Tuesday, September 30, 2025. The increases follow earlier projections of a hike from mid-September, driven mainly by exchange rate pressures. Market leader Star Oil announced on social media that petrol is now selling at GH¢13.17...
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Fuel prices rise with petrol now at GH¢13.38, diesel GH¢14.20
Some Oil Marketing Companies (OMCs) have begun adjusting prices at the pumps, with GOIL leading the way.A litre of petrol is now selling at GH¢13.38, up from GH¢12.99 on September 2, 2025. Diesel has also increased to GH¢14.20 per litre, from GH¢13.90. GOIL, the second-largest player in the industry, is the first to adjust prices...