GOIL PLC, the foremost indigenous Oil Marketing Company (OMC) in Ghana, has announced price reductions for both gasoline and gasoil beginning on Tuesday, May 16, 2023.
According to a press release from Robert Kyere, Public Relations Manager at GOIL PLC, both gasoline and diesel are now sold at their outlets for Gh12.30 per liter.
GOIL sold both gasoline and diesel at Gh12.64 per litre during the first pricing window, which terminated on Monday, May 15, 2023.
According to today's announcement, the price of both gasoline and diesel has decreased by 34 pesewas.
If not for the rises in Unified Petroleum Price Fund (UPPF) and Fuel Marking Margin, fuel prices in Ghana would have decreased substantially.
Other oil marketing firms may adjust their outlet prices later today or on Wednesday.
As a consequence of the decline in crude oil and refined product prices on the international market, the West African nation's fuel prices have decreased.
In the past two weeks, the price of a barrel of crude oil has hovered around $75.
WTI was trading at $71.47 per barrel on Tuesday morning, while Brent fell to $75.65 per barrel.