The Chamber of Petroleum Consumers – Ghana (COPEC-GH) has revealed that Compass Oleum and SEL Oil offered the least prices for petroleum products at the pumps between 1 August and 15 August.
The Chamber had entreated oil marketing companies (OMCs) in the country to cut the price of fuel by five per cent and beyond per the petroleum deregulation programme to reflect the prevailing world petroleum prices at the beginning of August.
Charles Ntim, the Pricing and Research Officer for COPEC-GH, revealed that after the group’s survey and analysis within the period under review for petrol, Lucky Oil topped all the retail outlets in terms of percentage reduction (2.287%).
However, the figures show that Compass Oil and SEL charged the least price of GHS3.450 per litre for petrol.
This is because although Lucky Oil’s price cut for the August window was the highest, it was charging a significantly higher price in the previous pricing window in July. AP Oil rather increased the price of petrol during the period under review.
For diesel, even though GOIL topped all the retail outlets in terms of percentage reduction of 2.305%, the figures showed that Compass Oil and SEL charged the least prices of GHS3.350 per litre of diesel each.
This is attributable to a higher previous price charged by GOIL after the pricing window in July