The fuel prices since the last pricing window in September 2019 has remained stable at major Oil Marketing companies in Ghana.
Fuel prices at major fuel stations in Ghana was increased after Finance Minister, Ken Ofori-Atta announced an increment in the energy sector levies in Ghana.
Major Oil marketing companies with regards to the increment from the government in September 2019 also adjusted fuel prices at the pumps.
According to Mr Ofori-Atta, the government introduced the Energy Sector Levy Act (ESLA) Bond in 2017 to pay for legacy debts from the past government. Government has since raised about GHS 6 billion on the back of ESLA bond.
Below are the latest fuel prices at the 5 major fuel stations in Ghana when Ghanatalksbusiness visited some OMCs station.
Buying fuel, and why the brand matters
What informs the decisions for drivers to stick to a particular brand of fuel from an Oil Marketing Company (OMC)? Brand loyalty makes customers patronize fuel from preferred choices as compared to others with relatively low prices?
There are several factors that account for every driver’s decision to stay glued to a particular pump for years.
In an interview with Ghanatalksbusiness.com, Executive Secretary of the Chamber of Petroleum Consumers Ghana, Duncan Amoah, explained there are factors that make a driver choose an Oil Marketing Company [OMC] over others even if he will pay more.
Enumerating the factors that account for the ‘addiction’ Duncan Amoah said Perception plays a key role, if an individual perceives an OMC to be selling good quality fuel, they see no reason buying from other OMCs.
Loyalty is also another factor, if a driver keeps buying from an OMC for overtime and still has his engine in good shape, they turn to stick to that particular brand.
Quality of service and quality of product has kept several drivers to some top brands in the Petroleum sector. It is the case that top OMCs , like Goil, Total and Shell, include additives to their fuel which enhance the quality of fuel and hence the performance of engines. The additives enhances the quality of fuel which consumers prefer to saving money and sacrificing their engines.