GOIL fuel prices have remained unchanged despite expectations of a fresh increase at the pumps, with the market leader maintaining its prices as other Oil Marketing Companies prepare to review their rates.
Prices published on GOIL’s social media platforms on Wednesday, September 2, show petrol selling at GH¢15.43 per litre, while diesel remains at GH¢17.26.
GOIL has not explained what informed the decision.
The price freeze comes as international crude oil and refined petroleum product prices rise, creating pressure for higher prices on the local market.
OMCs Face Fresh Pressure
Several OMCs have told JOYBUSINESS they are expected to review their prices on Wednesday.
The developments could also test transport fares, with some transport unions warning that they may increase charges depending on the adjustments announced by OMCs.
GOIL’s prices remain above the latest price floor set by the National Petroleum Authority. The floor requires petrol to be sold at no less than GH¢14.53 per litre and diesel at GH¢15.60.
The decision by the market leader could influence how competing OMCs position their prices during the latest window.
International Market Drives Pressure
Industry projections had pointed to higher pump prices before the window opened.
The Chamber of Oil Marketing Companies said crude oil prices rose 1.75%, from US$90.53 to US$92.11 per barrel. Refined products recorded steeper increases, with petrol rising 8.86%, diesel 5.51% and LPG 3.31%.
The cedi’s 3.64% appreciation to GH¢11.3697 against the dollar offered some relief, reversing three consecutive depreciation windows.
But that strength has not erased the pressure from the international market.
For now, GOIL has chosen to hold the line, leaving consumers and competing OMCs watching closely for what comes next.
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