Consumers of petroleum products are expected to witness a reduction in prices across the country from January 2, 2023.

This comes after some major Oil Marketing Companies (OMCs) have begun to adjust prices downwards at various pumps.

Checks by GhanaWeb Business to some OMCs showed that GOIL has reduced the price of its petroleum products by about 8 percent.

For instance, petrol is now selling at GH¢12.40 per litre representing a reduction of about GH¢1. Diesel, on the other hand, is going for GH¢14.60 per litre representing a GH¢1.50 pesewas drop.

Meanwhile, another OMC, TotalEnegies has also adjusted its prices to reflect a reduction in the price of petroleum products effective January 2, 2023.

In the later hours of the day, other OMCs are expected to review their prices downwards in a bid to woo more customers.

MA/FNOQ