GOIL PLC, a publicly listed oil and gas marketing company, has announced a reduction in fuel prices across 150 outlets nationwide as part of efforts to ease the cost of living. This latest adjustment—the company’s second in January—takes effect today. Under the new pricing window, petrol (PMS) has dropped from GH¢10.99 to GH¢9.99 per litre, marking the first return to single-digit pricing in nearly ten years. Diesel (AGO) has also been reduced, now selling at GH¢11.21 per litre compared to the previous GH¢11.96 at the selected stations.
The Group Managing Director and Chief Executive Officer (CEO) of GOIL PLC, Edward Abambire Bawa, explained that the significant reduction in fuel prices at 150 out of its 447 outlets nationwide, as part of a targeted pricing intervention, was aimed at easing transportation costs and ensuring that recent economic gains translated into tangible relief for ordinary Ghanaians. “The price reduction applies to strategically selected GOIL stations located closer to commercial vehicle terminals and major transport corridors across the country.
In an exclusive interview with the Daily Graphic, Mr. Bawa explained that the selected outlets mainly serve public transport operators and vehicles transporting food and goods from farm gates to urban and peri-urban markets. He noted that the initiative is intended to ensure that the benefits of improved macroeconomic conditions are directly felt by commuters, transport operators, traders, and consumers.
The MD/CEO of GOIL PLC further emphasized that the reduced fuel prices at these strategic locations are expected to lower transport fares, cut the cost of moving food items from farms to markets, and ultimately help stabilize food prices in towns and cities. He stressed that the intervention reflects GOIL’s role as a national energy company committed not only to maintaining competitiveness but also to advancing broader socio-economic goals, especially during periods of economic recovery.
The company further indicated that the pricing decision had 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 stabilising the economy and creating room for businesses to pass on cost savings to consumers,” the GOIL CEO added.
Mr Bawa reaffirmed GOIL PLC’s commitment to support 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 the country’s growth.
Source: Samuel Doe Ablordeppey
