OIL MARKETING companies (OMCs) are now employing price cuts to woo consumers as industry players get steeped in the deregulation policy of the government.
Unity Oil currently sells the cheapest petroleum products in the market.
A couple of days ago, some of the oil marketing companies had been touting their products as the cheapest but a visit to some pump stations indicated that Unity Oil was the toast of motorists due to its low prices.
At the company’s filling stations, petrol (Super) was selling at GH¢3.279 per litre while diesel was going for GH¢2.889 a litre.
Dr Kwame Kyei Baffuor, CEO of Unity Oil, commenting on the latest fuel prices presented by his outfit, said it was to alleviate the pain of loyal customers who had stood solidly behind the company throughout the years.
About three weeks ago, fuel prices went down at the filling stations between 10 and 15 percent.
That was followed by a further downward revision a fortnight later, which has seen petrol price going down by 1.71 percent, gas oil/diesel by 1.27 percent and liquefied petroleum gas (LPG) by 6.18 percent.
The National Petroleum Authority (NPA) has asked oil marketing companies to fix their own prices to reflect world market trends since government had resolved not to subsidise fuel prices for consumers anymore.
According to the latest price adjustments offered by the Association of Oil Marketing Companies (AOMCs), Modex comes next after Unity Oil with GH¢3.28 a litre for petrol and GH¢2.890 per litre for diesel, while GOIL and Top follow with GH¢3.310 each for petrol as well as GH¢2.895 and GH¢2.890 respectively for diesel.
At Allied Oil, petrol is going for GH¢3.300 as diesel is selling at GH¢2.889. Shell is selling its petrol at GH¢3.33, with diesel selling at GH¢2.926.
Total is also selling its petrol at GH¢3.357 while diesel goes for GH¢2.955.