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Business News of Saturday, 2 November 2024

    

Source: Citi News

Petrol prices up slightly; mixed reaction greet first pricing window of November

Fuel pump Fuel pump

The first fuel pricing window in November has seen Oil Marketing Companies (OMCs) adopt mixed pricing strategies due to fluctuating global oil prices and the cedi's depreciation.

While some OMCs, like Allied Oil, have raised petrol prices slightly to reflect increased global costs, others, such as Star Oil, have chosen to maintain prices, possibly to foster customer loyalty by temporarily absorbing the rising costs.

This varied approach reflects the impact of both global market trends and currency fluctuations on local pricing strategies.

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