In a move that is expected to bring relief to motorists and commuters, Ghana’s leading indigenous oil marketing company, GOIL PLC, has announced a reduction in the prices of petrol and diesel.
Effective September 2, 2024, a litre of Super XP (Ron 91) will now cost Gh¢14.16, down from Gh¢14.22, while Diesel XP will be sold at Gh¢14.70, a reduction from Gh¢14.90.
This price drop, which translates to 6 pesewas reduction for petrol and 20 pesewas for diesel, is a welcome development in a country where fuel prices have been a subject of concern for many.
The reduction is attributed to the decline in the cost of refined petroleum products, with petrol falling to US$779.10 per metric tonne and diesel declining to about US$712.8 per metric tonne.
The stability of the forex rate, with a dollar being exchanged for Gh¢15.73, has also contributed to the price reduction.
This move by GOIL is expected to have a ripple effect in the industry, with other oil marketing companies likely to follow suit.
The price reduction is a testament to GOIL’s commitment to providing affordable fuel to Ghanaians.
As the country’s leading indigenous oil marketing company, GOIL has consistently demonstrated its dedication to the welfare of its customers.
With this price reduction, motorists and commuters can expect to save some money on fuel costs.
However, it remains to be seen how long this price reduction will last, given the volatility of the global oil market.
-BY Daniel Bampoe