The Chamber of Petroleum Consumers (COPEC) has urged commercial transport operators, including ride-hailing platforms such as Bolt, Uber and Yango, to begin reviewing and adjusting their fares in line with the recent reductions in ex-pump fuel prices.

The call is expected to ease pressure on consumers, who have in the past borne the impact of elevated fuel costs.

COPEC’s Executive Secretary, Duncan Amoah, in a statement, pointed to the downward adjustments in pump prices by some oil marketing companies within the current pricing window.

The Chamber said the reductions are consistent with movements in international refined petroleum prices, relative stability in the exchange rate, and heightened competition within Ghana’s deregulated downstream petroleum market.

COPEC’s year-on-year assessment further shows that consumers are recording significant savings under the current pricing window, with petrol and diesel prices down by between GH¢3 and GH¢4 per litre compared with January 2025.

“In this regard, COPEC calls on OMCs that have not yet reviewed prices within the current window to do so promptly, ensuring pump prices reflect prevailing market conditions and serve the broader interest of consumers.

“COPEC commends the Oil Marketing Companies that have proactively reduced prices at the pumps to reflect the dynamics on the international market. We further stress that fair and responsive fuel pricing is essential to alleviating financial pressures on households, transport operators, and businesses.

“Additionally, COPEC urged commercial transport operators, including online ride-hailing services such as Bolt, Uber, and Yango, to begin reviewing and adjusting their fares to reflect the current reductions in Ex-Pump prices. Consumers must not be denied the benefit of price reductions when international and local market conditions become favourable,” the statement concluded.

Transport fares dropped by 15% in May last year, following successful negotiations between transport operators and the Ministry of Transport.

The fare adjustment was to reflect macroeconomic developments, including the sustained appreciation of the cedi against the US dollar at the time, contributing to a notable drop in fuel prices.

Currently, an analysis of current pump prices per data from COPEC indicates that petrol (Super) is selling at GH¢10.56 per litre at Star Oil, GH¢10.99 at GOIL, and GH¢11.68 at TotalEnergies, representing a 4.1% price difference between Star Oil and GOIL, and a 10.6% difference between Star Oil and TotalEnergies.

Diesel prices currently range from GH¢11.56 at Star Oil, GH¢11.96 at GOIL, to GH¢12.38 at TotalEnergies, while premium petrol (RON 95) spans from GH¢12.96 at Star Oil to approximately GH¢13.97– GH¢13.98 at GOIL and TotalEnergies.