Ghanaians are begining the new week with some relief at fuel stations as several Oil Marketing Companies (OMCs) have commenced reductions in the prices of petroleum products at the pumps, effective this morning, June 16, 2025. Star Oil, a dominant player in the market, is now offering a litre of petrol at GH¢11.57, while maintaining the price of diesel at GH¢12.49.
Other OMCs are also adjusting their rates. Some selected stations have priced a litre of petrol as low as GH¢10.99. There are signs that Star Oil might undertake additional price reviews in the coming days.
Shell has joined the downward trend, quoting GH¢11.98 per litre for petrol—a reduction from the GH¢12.98 price tag on June 3, 2025. Diesel at Shell stations is also slightly down, now at GH¢12.85 from GH¢12.89. Allied Oil has followed suit with petrol now retailing at GH¢10.97, down from GH¢11.45 posted on June 2, 2025. Diesel at Allied has dropped to GH¢12.45 from a previous GH¢12.75.
Some OMCs told JOYBUSINESS they are working to review their pump prices before the close of business today, June 16, 2025.
The Chamber of Oil Marketing Companies told JOYBUSINESS that “the cedi’s continuous appreciation against the US Dollar is a major reason for the reduction at the pumps.” It added that government’s decision to suspend the GH¢1 levy also helped stave off a potential price increase.
On the global front, prices of petroleum products have surged in response to the ongoing Israel-Iran conflict in the Middle East. Still, OMCs have credited the cedi’s firm appreciation between May 27 and June 12, 2025 for today’s price cuts.
However, the chamber has cautioned that if tensions in the Middle East continue to push up crude oil prices globally, consumers should prepare for possible upward adjustments in fuel prices beginning July 1, 2025.
Meanwhile, government has hinted at imminent measures to cushion Ghanaians against the rising costs of crude oil on international markets. This development comes after President John Mahama instructed the Ministers of Finance and Energy to craft policies to manage the expected economic shocks.
Sources close to JOYBUSINESS say the proposed measures may be announced ahead of the Mid-Year Budget Review.
Source: Joy Business
