Consumers of petroleum products can expect some relief as fuel prices at the pumps see a modest decline for the third consecutive time.
This reduction comes just two days into the second pricing window for March.
Total Energies has led the latest adjustment, lowering both petrol and diesel prices from GHS15.79 per liter in the first pricing window of March to GHS15.49 per liter for the second window.
This marks the third consecutive reduction since prices began to fall in the second pricing window of February.
The price drops are largely attributed to declining crude oil prices on the international market and the recent relative stability of the Ghanaian cedi against the US dollar. The trend signals that other oil marketing companies may follow suit in the coming days.
The Chamber of Oil Marketing Companies (COMC) had previously forecasted a potential drop in fuel prices for the second March window, driven by falling global crude oil prices.
Data from the Chamber shows that crude oil prices have decreased from $75.49 per barrel to $71.94 per barrel, representing a 4.16% drop.
This decline is linked to concerns over escalating trade tensions under the administration of former US President Donald Trump, which have contributed to a bearish outlook on global economic growth and oil demand.
