Business

GOIL reduces fuel prices

Ghana Oil Company (GOIL), a major oil distributor, has announced a decrease in gas prices.

Recently, the cost of fuel, particularly diesel and gasoline, has increased.

Diesel was going for more than GH$23, while gasoline was going for about GH$18.

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However, according to GOIL, a litre of gasoline is currently selling for GH16.82, while a litre of diesel is reportedly going for GH20.50.

According to GOIL’s announcement, the price of a litre of gasoline has been dropped by Gh1.17, while the price of a litre of diesel has decreased by Gh2.99.

The firm claims that the reduction will start on Tuesday, November 15, 2022.

After the Chamber of Petroleum Consumers (COPEC) forecasted a drop in fuel prices by Monday, November 14,2022. this happens a few days later.

The Executive Secretary of the Chamber, Duncan Amoah, suggested that measures are being put in place to help subsidize the growing prices in an interview with Roselyn Felli on Prime Morning on Wednesday.

“We anticipate that the price of diesel will decrease from GH23 to somewhere around GH21.19 and that the price of gasoline would decrease from GH17.99 to somewhere around GH17.10 or GH17.00.

On the basis of the FX figures we have chosen during the past week, he stated, “diesel might go down by GH2.00 a litre and petrol could fall close to a cedi per litre.”

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