Some major Oil Marketing Companies (OMCs) have started lowering the prices of certain petroleum products at the pump.
Ghana Oil Limited (GOIL), the market leader, has announced a price decrease of more than 8%.
GOIL has reduced the price of diesel by 1.50 cents, selling it at $14.60 per litre.
Petrol, on the other hand, costs $12.40 per litre, or one cedi drop.
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The cut by GOIL is in line with the two-week review of petroleum product prices at the pump.
TotalEnergies has also reduced its prices.
Other oil marketing companies are expected to adjust their prices later today.
As companies compete for more customers, competition is expected to drive down prices.
There are currently over 100 oil marketing companies in the country.
SOURCE: Myjoyonline