Fuel prices drop for second consecutive time

Some oil marketing companies have marginally reduced fuel prices at the pump in the first pricing window of March, marking the second consecutive drop after three earlier hikes this year.

Total Energies led the reduction, lowering petrol and diesel prices from GHS 15.99 to GHS 15.79 per litre. Shell followed, cutting petrol from GHS 15.89 to GHS 15.72 per litre and diesel from GHS 15.99 to GHS 15.77 per litre.

The price cuts are linked to falling crude oil prices globally and a slight cedi depreciation against the US dollar. Other oil marketing companies are expected to follow suit, potentially continuing this trend.