GOIL has announced a reduction in fuel prices across 150 of its service stations, bringing relief to motorists as economic pressures and global market fluctuations continue to affect fuel costs.
The adjustment is part of the company’s effort to ease the financial burden on consumers while staying competitive within the energy sector.
According to GOIL, the price reduction reflects recent declines in international crude oil prices and an improvement in the local currency’s performance.
Under the current pricing window, the price of petrol (PMS) has been reduced to GH¢9.99 per litre, down from GH¢10.99, marking the first time in nearly a decade that petrol prices have returned to single-digit levels. Diesel, technically known as AGO, has also been reduced to GH¢11.21 per litre, compared with the previous GH¢11.96, at selected GOIL 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. 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,” he explained in an exclusive engagement with the Daily Graphic.
“The intervention is designed to ensure that the benefits of improved macroeconomic conditions are passed on directly to commuters, transport operators, traders, and consumers,” Bawa added.
The MD/CEO of GOIL PLC noted that lower 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.
Bawa emphasised that the initiative aligns with GOIL’s role as a national energy company, which carries the responsibility not only to remain competitive but also to support broader socio-economic objectives, particularly 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.
Bawa reaffirmed GOIL PLC’s 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 the country’s growth.
Motorists across various regions have welcomed the move, describing it as timely and impactful. Commercial drivers, in particular, have expressed hope that the reduction will help stabilise transport fares, which have been a point of concern for both drivers and passengers.
