Several oil companies cut fuel prices Monday because Ghana's cedi became stronger against the dollar. Ghana Oil Company Limited reduced petrol costs from 13.27 cedis per liter to 12.52 cedis. The state company also lowered diesel prices from 13.87 cedis to 12.98 cedis per liter. These new rates started at 6 a.m. Monday morning across Goil stations. Customers saw immediate savings when they filled up their vehicles.
StarOil made even bigger price cuts for drivers around the country. Petrol fell from 12.57 cedis to 11.77 cedis per liter at most locations. Diesel prices went from 13.49 cedis to 12.49 cedis per liter. Some StarOil stations offer extra discounts with petrol at 11.57 cedis and diesel at 12.29 cedis. The company started these lower prices at 8 a.m. Monday.
StarOil officials said the stronger cedi allowed them to pass savings to customers. The company called its customers Starsavers and promised to share benefits from currency gains. Oil companies buy fuel using dollars and pay less when the cedi strengthens. These savings help reduce pump prices for Ghanaian drivers. More oil companies may announce similar price cuts this week.
StarOil made even bigger price cuts for drivers around the country. Petrol fell from 12.57 cedis to 11.77 cedis per liter at most locations. Diesel prices went from 13.49 cedis to 12.49 cedis per liter. Some StarOil stations offer extra discounts with petrol at 11.57 cedis and diesel at 12.29 cedis. The company started these lower prices at 8 a.m. Monday.
StarOil officials said the stronger cedi allowed them to pass savings to customers. The company called its customers Starsavers and promised to share benefits from currency gains. Oil companies buy fuel using dollars and pay less when the cedi strengthens. These savings help reduce pump prices for Ghanaian drivers. More oil companies may announce similar price cuts this week.
