GOIL subsides fuel prices

Ghana Oil Company Limited (GOIL) the only indigenous downstream oil marketing company in the country has decided to absorb the four per cent price increment on petroleum due to the deregulation.

Prices of petrol at GOIL’s 200 filling stations across the country are still charging GH₡ 3.33 per litre and diesel GH₡ 3.24 per litre in spite of the increment as announced by the National Petroleum Authority.

Other Oil Marketing Companies are now selling petrol at GH¢3.46 per litre.

Mr Patrick Kwame Akpe Akorli, GOIL Managing Director told the Ghana News Agency in an interview that the decision to maintain the prices was in line with GOIL’s corporate, position of ensuring good business practices.

He said it was also to help reduce the level of attrition charges in fuel prices caused to road users and the public at large.

He said GOIL “will continue to put our customer’s needs first and will continue doing so to keep the good energy flowing”.

Mr Akorli explained that deregulation is the lifting of certain government controls such as price control on several aspects of a specific industry, specifically the oil industry. GNA

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