Petroleum products at the pump have seen price adjustments following the decision by Oil Marketing Companies (OMCs) to review their prices for the November pricing window, with petrol recording a reduction while diesel prices have increased.

At Star Oil, petrol has dropped from GH¢16.45 to GH¢16.38 per litre, while diesel has increased from GH¢17.95 to GH¢18.45 per litre.

According to COMAC, the differing fuel price adjustments reflect changes in international petroleum prices, gains in the cedi’s value, and collaborative efforts by the government and industry stakeholders to ease the effect of rising diesel prices on consumers.

Petrol rose from GH¢16.00 per litre in the last pricing window in September to GH¢16.45per litre in the last window, an increase of GH¢0.45 or 2.8%.Diesel increased from GH¢16.77 per litre to GH¢17.97 per litre, an increase of GH¢1.20 or 7.2%.

However, in the second pricing window, fuel prices are expected to decline from today, Friday, October 16, as Oil Marketing Companies begin implementing new prices for the second pricing window of October, offering some relief to consumers.

Meanwhile, petrol prices are projected to fall by close to 2%, while diesel prices are expected to decline by 3.32%, despite recent depreciation of the cedi, which is expected to limit the gains from lower international petroleum product prices.

On a cash-purchase basis, petrol is projected to sell at GH¢17.67 per litre, while diesel is expected to retail at GH¢19.30 per litre.

The expected price reductions follow the first pricing window in October, when major Oil Marketing Companies (OMCs) maintained their pump prices following government interventions.

The interventions included agreements by the Sentuo Oil Refinery and the Tema Oil Refinery to maintain their petroleum product supply prices to Bulk Distribution Companies at the levels recorded in the previous pricing window. The government also suspended the GH¢1-per-litre dumsor levy on diesel for October.

These measures came after earlier fuel price increases raised concerns that pump prices could reach or exceed GH¢20 per litre.

Under the new pricing window, petrol is expected to sell at a minimum of GH¢16.09 per litre, while diesel has a floor price of GH¢17.09 per litre.

However, pump prices may differ across fuel stations depending on the additional costs and profit margins applied by individual Oil Marketing Companies.