Ghana’s downstream petroleum sector is seeing early signs of intense competition as the second March 2026 fuel pricing window opened on March 16, with Oil Marketing Companies (OMCs) adjusting pump prices amid regulatory changes and rising global oil costs.

State-owned GOIL PLC initially maintained petrol at GH¢11.57 per litre and diesel at GH¢14.35, keeping prices at the minimum levels set for the window.

Meanwhile, market leader Star Oil had increased prices in response to rising international oil prices, driven largely by geopolitical tensions in the Middle East. At the start of the window, Star Oil sold petrol at GH¢12.49 per litre, diesel at GH¢15.99, and RON 95 at GH¢13.59.

By March 17, GOIL revised its prices upward—petrol at GH¢12.40, diesel at GH¢15.69, and Super XP 95 at GH¢14.35. Star Oil responded with downward adjustments, selling petrol at GH¢12.29 and diesel at GH¢14.99, while keeping RON 95 at GH¢13.59, effectively undercutting GOIL on key products.

The early price adjustments signal a competitive back-and-forth among OMCs under the new regulatory framework. Analysts expect more companies to review and adjust prices over the coming days as they aim to protect market share.

The pricing window coincides with the implementation of revised guidelines by the National Petroleum Authority, which prohibit selective fuel discounting by OMCs and LPG Marketing Companies (LPGMCs) at certain stations. Under the new rules, all outlets must maintain uniform pricing or face sanctions, forcing companies to rethink their pricing strategies in Ghana’s downstream petroleum sector.