Oil marketers suffering from unstable pricing window – Riverson Oppong

The Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Riverson Oppong, says oil marketing companies in Ghana are facing increasing pressure due to the frequent and unpredictable changes in fuel prices.

According to him, the instability in global petroleum markets has created significant challenges for industry players who must constantly adjust their pricing at the pumps.

In an interview on JoyNews, Mr. Oppong explained that the rapid shifts in international fuel prices are affecting the operations of oil marketing companies, particularly at the unit level, where retailers must respond quickly to market movements.

“Our members are suffering, no doubt, in terms of the rampant changes in the market prices at the unit level,” he said.

He therefore called for authorities to take a second look at the country’s fuel pricing window, especially during periods of extreme volatility in the international oil market.

Mr. Oppong argued that reviewing the pricing framework could help stabilise the sector and provide some relief to oil marketing companies struggling to keep up with constant price adjustments.

He maintained that such reforms would be necessary to ensure the sustainability of businesses in Ghana’s downstream petroleum sector while protecting consumers from excessive market shocks.

His comments follow the recent adjustment of fuel prices at the pumps by some Oil Marketing Companies (OMCs) following the projection that the current pricing window would witness one of the highest increases in recent times.

Checks by Joy Business this morning, March 16, 2026, showed that Star Oil has increased the prices of petroleum products, selling a litre of petrol at GH¢12.49.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.