Ghana’s leading indigenous Oil Marketing Company (OMC), GOIL PLC, has announced reductions in both gasoline and gasoil prices at the pumps effective, Tuesday, May 16, 2023.

According to a release by Robert Kyere, Public Relations Manager at GOIL PLC, both petrol and diesel now sell at Gh¢12.30 per litre at their pumps.

During the first pricing window which ended on Monday, May 15, 2023, GOIL sold both petrol and diesel at Gh¢12.64 per litre.

Per today’s announcement, both prices of petrol and diesel products have been reduced by 34 pesewas.

Fuel prices would have dropped significantly in Ghana but for the increases in Unified Petroleum Price Fund (UPPF) and Fuel Marking Margin.

Other oil marketing companies are likely to adjust their pump prices later today or Wednesday.

Fuel prices have been falling in the West African nation as a result of the fall in crude oil prices and refined products on the international market.

Crude oil prices have been hovering around US$75 per barrel in the last fortnight.

As of Tuesday morning, WTI was trading at $71.47 per barrel while Brent tumbled to $75.65 per barrel.






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