Two of Ghana’s leading Oil Marketing Companies are intensifying competition as they strive to retain customers by offering quality yet affordable fuel.

Star Oil, currently the market leader, and GOIL PLC are engaged in an ongoing price war.

On Monday morning, Star Oil announced a price adjustment, with regular petrol (RON 91) selling at GH₵12.49 per litre, petrol (RON 95) at GH₵13.59 per litre, and diesel at GH₵15.99 per litre.

At the time, GOIL PLC was selling regular petrol at GH₵11.57 per litre and diesel at GH₵14.35 per litre.

By Tuesday morning, GOIL PLC had adjusted its pump prices upward, with regular petrol (RON 91) selling at GH₵12.40 per litre, petrol (RON 95) at GH₵14.35 per litre, and diesel at GH₵15.69 per litre.

This indicated that GOIL PLC was offering relatively lower prices than its main competitor.

Failure by Star Oil to respond could have risked losing customers to GOIL, which appears determined to reclaim its position as market leader.

In an attempt to maintain its customer base, Star Oil responded around 8:00 a.m. on Tuesday by lowering its pump prices below GOIL’s, thereby weakening GOIL’s pricing strategy.

Star Oil reduced its prices, with regular petrol (RON 91) selling at GH₵12.29 per litre, petrol (RON 95) at GH₵13.59 per litre, and diesel at GH₵14.99 per litre.

Unperturbed by Star Oil’s response, GOIL PLC further adjusted its pump prices around 2:00 p.m. on Tuesday, lowering them below those of its competitor.

As of Tuesday afternoon, GOIL PLC was selling regular petrol (RON 91) at GH₵12.28 per litre, petrol (RON 95) at GH₵14.35 per litre, and diesel at GH₵14.98 per litre.

It remains unclear what Star Oil’s next move will be.