The Chamber of Petroleum Consumers (COPEC) is advocating a review of Ghana’s fuel pricing framework, calling for the complete removal of the price floor in the downstream petroleum sector.
According to COPEC, the growing competition among oil marketing companies (OMCs) demonstrates the advantages of a more liberalised market, where efficiency and pricing determine success.
The appeal follows an ongoing price rivalry between Star Oil and GOIL, with both firms repeatedly adjusting pump prices during the second pricing window of March in response to each other.
Executive Secretary of COPEC, Duncan Amoah, noted that the current competition is already benefiting consumers through lower and more competitive fuel prices. He argued that eliminating the price floor entirely would allow market forces to operate more effectively, potentially delivering even greater value.
He explained that several OMCs, including Zen, JP, and PETROSOL, have contributed to keeping prices competitive, with companies strategically reducing margins to attract customers—even amid global pressures such as geopolitical tensions in the Middle East.
Amoah described the development as a positive sign, urging authorities to reconsider maintaining the price floor. He stressed that a free market environment would reward efficiency, competitive pricing, and quality service.
For the second pricing window in March, the price floor has been set at GH¢11.57 per litre for petrol, GH¢14.35 for diesel, and GH¢10.67 for LPG—marking the minimum prices at which OMCs are allowed to sell fuel products
