The Chief Executive of the Association of Oil Marketing Companies (AOMC), Dr. Riverson Oppong, has projected a price reduction in petroleum products at various pumps from September 16, 2024.
He asserted that oil marketing companies will consider various factors, including the performance of the cedi, when reviewing the prices of petroleum products.
Speaking on JoyNews’ PM Express, monitored by GhanaWeb Business, Dr. Oppong said, “All the variables that influence prices of petroleum products have been fairly stable over the past week, and if that is sustained going forward, then there should be a reduction in prices at the pumps.”
“There is always a reason why the OMCs delay in reviewing prices at the pumps, and that has nothing to do with the arguments that they want to shortchange consumers,” he pointed out.
In August this year, motorists heaved a sigh of relief after some Oil Marketing Companies (OMCs) reduced the pump prices of petrol and diesel.
A litre of petrol is selling between GH¢13.63 to GH¢14.35 depending on the OMC, while diesel is going for GH¢13.99 to GH¢14.60.