Indigenous and largest oil marketing company in the Republic of Ghana, GOIL COMPANY LIMITED, has reduced fuel prices by 27 pesewas per litre with effect from Monday 16th March, 2020.
The company’s Super XP RON 95 will now sell at 5.11Cedis while Diesel XP will sell at 5.13 Cedis.
There has been calls by section of Ghanaians including Chamber of Petroleum Consumers (COPEC) for the oil marketing companies to reduce the prices of fuel at the pump following the fall in crude oil prices on the international market.
At about 3pm Monday, WTI crude was trading at about US$29.93 while Brent was selling at US$ 32.33 per barrel.
In a statement signed by Robert Kyere, Public Relations Managers for GOIL, it said the revision in prices is as a result of reduction in international prices of finished products and the relative stability of the Cedi against major currencies especially the US Dollar.
GOIL recently introduced a higher grade Super XP (RON 95) onto the market for all customers at no extra cost and at the last window, took the extraordinary step to reduce the price of the higher grade and quality RON 95.
Source: www.energynewsafrica.com