GOIL reduces fuel prices by 14 pesewas, now selling at GH¢6.85 per litre

Fuel prices have seen significant increase twice in only November

GOIL, other OMCs increased fuel prices to GH¢6.99 last week

GPRTU threatens industrial action over continuous fuel price increase

Oil Marketing Company GOIL has announced a 14 pesewas reduction in fuel prices from the current GH¢6.99 to GH¢6.85 effective Tuesday, November 23, 2021.

The Public Relations Officer for GOIL, Robert Kyere, says the move will serve as cushioning for Ghanaians following the recent hikes in the prices of petroleum products on the international market

Checks at the various pump stations show GOIL’s Super XP Ron 95 and diesel are selling at GH¢6.85 per litre.

The price change has been announced despite an earlier projection by the Institute for Energy Studies (IES) that fuel prices will hit the GH¢7 mark by the end of this year.

This will somewhat come as a relief to consumers since some OMCs are already selling petrol and diesel at an average of GH¢6.93 per litre.

According to Robert Kyere, “the significant reduction effective today (23 November 2021) is a sacrificial reduction of margins to cushion Ghanaians.”

However, some OMCs, largely the smaller ones have also cut their prices slightly.

Transport operators, specifically members of the Ghana Private Road Transport Union (GPRTU), have lamented the increasing rate of fuel prices this year. The union has also sent an alert of their intention to embark on an industrial action from Monday 29 November to government.

Head of Communications for the GPRTU, Abass Imoro, says the drivers’ and transport owners’ action is intended to compel the government to reduce the price of a litre of fuel by GH¢1.50.