Some Oil Marketing Companies (OMCs) in Ghana have reduced fuel prices at the pumps again, with Star Oil this morning selling petrol at GH¢10.36 per litre and diesel at GH¢11.36 at selected outlets nationwide.

These prices reflect Star Oil’s discounted pricing policy, which applies to certain service stations across the country. The move follows earlier reductions in the first January 2026 pricing window, when petrol fell to GH¢10.86 per litre and diesel to GH¢11.96. Star Oil further reduced prices on January 6 to GH¢10.56 for petrol and GH¢11.56 for diesel before the latest adjustment.

State-owned GOIL, the country’s second-largest OMC, also cut pump prices on January 6, selling petrol at GH¢10.99 per litre and diesel at GH¢11.96.

This is the second round of price reductions within the January 2026 pricing window, with some industry analysts describing the developments as early signs of competitive pricing among major oil marketers. Sources indicate that other market players are preparing to respond to these price movements in the coming days.

Some OMCs have hinted that if the cedi’s current performance against the US dollar is sustained, consumers could see another round of reductions from January 16, 2026.

The Chamber of Oil Marketing Companies projected that petrol prices could fall by between 2.40% and 4.80%, bringing the per-litre price to around GH¢11.90. Diesel is expected to decline by up to 3.77% to about GH¢12.50 per litre, while liquefied petroleum gas (LPG) could drop by 2.19% to around GH¢13.40 per kilogramme.

The anticipated reductions are being driven primarily by falling global crude oil and refined petroleum product prices. Data shows that international prices for petrol, diesel, and LPG fell by 9.17%, 8.11%, and 3.82% respectively over the period.

Additionally, the Ghana cedi has strengthened significantly against the US dollar, appreciating by more than 3% over the past three weeks. For the January 1, 2026 pricing window, the cedi moved from GH¢11.14 to GH¢10.50 to the dollar, an 8.20% gain, marking one of its strongest performances in recent months and a major improvement from GH¢14.84 during the same period last year.