GOIL drops petrol price to GHC9.99

GOIL PLC, the nation’s foremost indigenous oil marketing company, on Friday announced a significant reduction in fuel prices at 150 out of its 447 outlets nationwide.

The targeted pricing intervention aimed at easing transportation costs and ensuring that recent economic gains translate into tangible relief for ordinary Ghanaians.

Under the current pricing window, the price of petrol (PMS) has been reduced from GH¢10.00 to GH¢9.99 per liter, marking the first time in nearly a decade that petrol prices have returned to single-digit levels.

Diesel (AGO) has also been reduced from GH¢11.96 to GH¢11.21 per liter at the selected stations; however, the price of Super XP 95 was maintained at GH¢13.97 per liter.

The price reduction applies to strategically selected GOIL stations located closer to commercial vehicle terminals and major transport corridors across the country.

In a statement issued by the Corporate Affairs Department and copied to the Modern Ghana News in Accra, it was explained that these locations primarily serve public transport operators and vehicles involved in the movement of food and goods from farm gates to urban and peri-urban markets.

According to GOIL PLC, the intervention is designed to ensure that the benefits of improved macroeconomic conditions are passed on directly to commuters, transport operators, traders, and consumers.

The statement explained that tower fuel prices at these high-impact locations are expected to help reduce transport fares, lower the cost of moving food items from farms to markets, and ultimately moderate food prices in towns and cities.

GOIL noted that the initiative aligns with its role as a national energy company with a responsibility not only to remain competitive but also to support broader socio-economic objectives, particularly in periods of economic recovery.

The company further indicated that the pricing decision has been made possible by the improving economic fundamentals of the country, including greater macroeconomic stability, easing inflationary pressures, and enhanced confidence in the economy.

These conditions have been underpinned by the sound economic leadership of President John Dramani Mahama, whose policies have contributed to stabilizing the economy and creating room for businesses to pass on cost savings to consumers.

GOIL PLC reaffirmed its commitment to supporting national development through responsible pricing, efficient operations, and strategic interventions that positively impact the daily lives of Ghanaians.

The company encouraged the public, particularly commercial drivers and transport operators, to take advantage of the reduced prices at the designated GOIL stations, as it continues to deliver on its promise of providing good energy to power Ghana’s growth.