The Chamber of Oil Marketing Companies (COMAC) has noted recent public commentary, on the inadequacy of fuel price reductions in the first pricing window of June 2025, by Oil Marketing Companies (OMCs)/LPG Marketing Companies (LPGMCs).

While we value open discourse and respect the public’s interest in petroleum pricing, it is important to address and clarify misconceptions surrounding the complex dynamics that govern fuel pricing within Ghana’s deregulated downstream petroleum sector.

Ghana operates a deregulated pricing framework under the oversight of the National Petroleum Authority (NPA), guided by a structured Petroleum Pricing Formula. This formula for the determination of the ex-pump price encompasses three (3) components, including;

•Ex-refinery prices set by Bulk Import, Distribution and Export Companies (BIDECs), influenced by global Free-On-Board (FOB) price, supplier premiums, and freight considerations;
•Statutory taxes and levies, and;
•Operational margins required to maintain full cost recovery.

Figure 1 below illustrates the components and percentage breakdown of the fuel price build-up.