Fuel prices at the pumps have dropped slightly for the third consecutive time, offering some relief to consumers.

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The latest reduction took effect two days into the second pricing window for March.

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Leading the adjustment, Total Energies has lowered the cost of petrol and diesel from GHS15.79 per liter in the first pricing window to GHS15.49 per liter in the second.

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This marks the third successive decrease, extending a trend that began in late February.

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Industry analysts link the reduction to declining crude oil prices on the global market and the relative steadiness of the Ghanaian cedi against the US dollar.

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With this price drop, other oil marketing firms are likely to follow suit in the coming days.

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The Chamber of Oil Marketing Companies (COMC) had earlier projected a possible decrease in fuel prices, citing falling crude oil prices as the main factor.

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Data from the Chamber indicates that the price of crude oil has fallen by 4.16%, declining from $75.49 per barrel to $71.94 per barrel.

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Analysts attribute this decline to rising trade tensions under US President Donald Trump’s administration, which have sparked concerns over global economic growth and energy demand.

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