Former Minister of Power, Dr Kwabena Donkor, has attributed the recent decline in fuel prices across Ghana mainly to the strengthening of the Ghanaian cedi and falling international oil prices, but raised concerns over how some oil marketing companies (OMCs) are implementing price changes.
Speaking on Joy FM’s Super Morning Show on Tuesday, January 20, Dr Donkor said movements in the local currency and global petroleum markets directly influence the cost of fuel at the pump.
“Prices are coming down for two major reasons. One, prices on the international market are coming; two, we have a strong cedi now. The combination of the two automatically results in the downward trend in pricing,” he explained. “I am extremely happy that prices are coming down.”
Recent industry data show that several OMCs have already cut pump prices: GOIL has reduced petrol to about GH¢9.99 per litre and Star Oil to around GH¢9.97 per litre, reflecting the broader price easing following international declines and currency appreciation. Other stations have also reported fuel selling below GH¢10 per litre in some instances.
However, Dr Donkor criticised the practice of selective fuel price discounts at certain stations, arguing that the approach risks violating the country’s Uniform Petroleum Pricing Plan, which requires consistent pricing across an OMC’s network.
He warned that uneven discounting could disadvantage consumers in the long run: “When you do that, you create a situation where certainly one or two OMCs become so dominant that whenever they decide to change their prices, it will impact negatively on the consumer,” he said.
Read also: Dr Kwabena Donkor opposes fuel floor price at selected locations, calls for nationwide compliance
Dr Donkor noted that selective discounts not only contravene regulatory guidelines, but also risk creating imbalances that unfairly benefit some operators over others, potentially distorting competition.
The debates over pricing coincide with a scheduled emergency meeting of the Chamber of Oil Marketing Companies (COMAC) on Wednesday, 21 January 2026, aimed at agreeing on a common position on the Petroleum Price Floor Programme.
Read also: COMAC to hold emergency meeting on January 21 over fuel price floor policy
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