Fuel consumers are set to experience some relief as pump prices decline marginally for the third consecutive time.
This reduction comes just two days into the second pricing window for March, with Total Energies leading the adjustment. The company has lowered the price of both petrol and diesel from GHS15.79 per litre in the first pricing window of March to GHS15.49 per litre in the second window.
This marks the third straight drop in fuel prices since reductions began in the second pricing window of February. The decline is being attributed to falling crude oil prices on the global market and the relative stability of the Ghanaian cedi against the US dollar.
With this trend, other oil marketing companies are expected to adjust their prices in the coming days.
The Chamber of Oil Marketing Companies (COMC) had earlier projected a potential drop in fuel prices for March’s second pricing window, citing a decrease in global crude oil prices.
According to COMC data, crude oil prices dropped from $75.49 per barrel to $71.94 per barrel, representing a 4.16% decline.
This dip is linked to concerns over escalating trade tensions under US President Donald Trump’s administration, which have raised fears about global economic growth and oil demand.
Source:- chanel1news
