Business

15ps Reduction Not A Directive Of Government-Goil

Goil has rubbished the allegations that the government of Ghana directed it to reduce fuel prices by 15 pesewas earlier this week.

In a letter signed by the CEO of the state-owned oil and gas marketing company, Kwame Osei Prempeh to the Association of Oil Marketing Company (AOMC), Goil alluded that the reduction in the price of a litre of fuel to 6.7pesewa was decided by the company based on prudent commercial principles.

It added that Goil is a listed company with a constituted Board of Directors and management responsible for taking decisions.


“In this pricing window and looking at the agitation of transporters and the concerns of Ghanaians, Goil decided to sacrifice its margin of benefit to its cherished customers and Ghanaians as a whole.

“On this occasion, Goil decided to reduce its prices after taking all necessary steps to safeguard the interest of the business”, the letter said.

He recalled that prior to the new 15 pesewas reduction, a 14 pesewas reduction took place which was not the government’s directive.

The company further expressed its disappointment in AOMC for not engaging it on the issue, instead, ordered the government to withdraw the reduction directive and “denigrating the Board and Management of Goil as the whipping boys of the government”.

As a result, Goil has suspended its membership in AOMC and further demand that the association proves their allegation of government interference in the company.

The 15 pesewas reduction in fuel at Goil pumps followed a crunch meeting between the leadership of Ghana Private Road Transport Union (GPRTU) in December when commercial drivers staged a sit-down strike over rising fuel prices.

Drivers suggested that the government scrap some of the taxes on fuel which include; energy debt recovery levy, the Road fund levy, Energy sector levy, Sanitation levy, and Special petroleum levy.

Source: opemsuo.com/Hajara Fuseini

Leave a Reply

Your email address will not be published.