The start of December’s first pricing window has brought slight increases in fuel prices by some Oil Marketing Companies (OMCs), with Shell leading the charge. This development follows a period of mixed expectations in the fuel market.
Petrol prices have seen a modest rise, with a litre now retailing at GH₵14.99, up from GH₵14.82 in late November. Diesel prices have also edged upward, from GH₵15.66 per litre to GH₵15.72. These adjustments come despite earlier predictions of price declines, particularly during the second pricing window in November when petrol prices decreased slightly but diesel remained steady.
The Chamber of Petroleum Consumers (COPEC) had projected further reductions, citing favorable conditions in the global market and the performance of the cedi. International petrol prices had dropped from $723.03 per metric tonne to $676.64 per metric tonne during the second pricing window in November, a trend COPEC believed would continue into December.
Shell’s latest pricing decision, however, hints at a potential reversal of this downward trend. While only a few days into the new pricing window, these marginal hikes signal a cautious approach by OMCs amid volatile market conditions.
Consumers and stakeholders now await further pricing decisions from other OMCs, as global market dynamics and local currency fluctuations continue to shape fuel pricing in Ghana.
