By Karen Antwi
Star Oil, one of Ghana’s leading fuel marketing companies, has suspended its membership of the Chamber of Oil Marketing Companies (COMAC) following a dispute over the industry’s petroleum price floor policy.
In a statement issued on Wednesday, the company announced that it is withdrawing indefinitely from the industry body, citing concerns that its views are not being fairly represented in ongoing discussions on fuel pricing.
Star Oil said it has been a long-standing and active contributor to COMAC’s work but believes recent developments have undermined the principle of balanced representation within the chamber.
At the heart of the disagreement is COMAC’s public support for maintaining a minimum retail fuel price. Star Oil argues that the policy distorts market signals, restricts competition, and prevents international oil price movements and foreign exchange fluctuations from being reflected promptly at the pumps.
The company said it has consistently advocated for the removal of the price floor, a position that puts it at odds with the majority view within COMAC.
Star Oil also expressed concern that its position was not adequately communicated during recent media engagements by COMAC leadership, leading to what it described as negative and unfair public perceptions about its intentions.
The company stated that it would only reconsider its membership when COMAC demonstrates a clear commitment to balanced representation and fair communication of divergent views among its members.
