GOIL reduces petrol price by 29 pesewas, sells GHC14.70 per litre

Commodity News GOIL reduces petrol price by 29 pesewas, sells GHC14.70 per litre

The Ghana Oil Company (GOIL) has reduced the price of petrol at its pumps by 29 pesewas per litre, in its latest price adjustment.

GOIL announced on Thursday, April 18, that the price of petrol has been revised downwards from GHC14.99 to GHC14.70 per litre.

The price of diesel, however, remains unchanged at GHC14.80 per litre - the price that was announced by GOIL on Tuesday this week.

This new development comes as a relief to consumers who have endured rising fuel prices in the past couple of weeks.

GOIL had increased prices three times within two weeks prior to this latest reduction in petrol prices.

On April 16, GOIL increased petrol and diesel prices to GHC14.99 and GHC14.80 per litre respectively.

This followed earlier increases on April 3 and 4, after the suspension of the Price Stabilization and Recovery Levy (PSRL) was reversed.

The PSRL is a tax on fuels that the government uses to support subsidies.

Its reintroduction on April 3 led oil marketing companies like GOIL to pass on additional costs to consumers.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

News ReporterPage: IsaacDonkorDistinguished