Ghana’s leading indigenous Oil Marketing Company (OMC), GOIL PLC, has announced reductions in both gasoline and gasoil prices at the pump effective Thursday, March 16, 2023.
According to a release by Robert Kyere, Public Relations Manager at GOIL PLC, a litre of petrol is selling at Gh¢12.95 while diesel is selling at GH¢13.49.
During the first pricing window which ended on Wednesday, March 15, 2023, GOIL sold both petrol and diesel at Gh¢13.80 per litre.
Per today’s announcement, petrol price has been reduced by 85 pesewas while diesel saw a reduction of 31 pesewas.
This means petrol saw a 6.1 per cent reduction while diesel saw a 2.24 per cent reduction.
Other oil marketing companies are likely to adjust their pump prices later today or Friday.
Fuel prices have been falling in the West African nation as a result of two key factors notably the fall in crude oil prices on the international market and the implementation of the government’s ‘gold for oil’ programme.
Crude oil prices were hovering around US$83 per barrel last week but on Wednesday, both WTI and Brent, the international benchmark crude, tumbled.
WTI tumbled to $67.62 per barrel while Brent tumbled to $73.71 per barrel.
Since the implementation of the government’s ‘gold for oil’ programme, BOST has taken delivery of five cargoes of fuel comprising two petrol and three diesel.
Source: https://energynewsafrica.com
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