Leading marketing oil company, Ghana Oil Company (GOIL), has announced a reduction in fuel prices at the pumps.
There has been a recent hike in fuel prices, including diesel and petrol.
Diesel was selling for more than GH¢23, while the price of petrol is hovering around GH¢18.
But GOIL has announced a litre of petrol is now selling at GH¢16.82 while diesel is selling at GH¢20.50 per litre.
GOIL’s announcement means that a litre of petrol has been reduced by Gh¢1.17 while diesel saw a reduction of Gh¢2.99 per litre.
The reduction according to the company takes effect from Tuesday, November 15, 2022.
This comes a few days after the Chamber of Petroleum Consumers (COPEC) predicted a reduction in fuel prices by Monday, November 14, 2022.
Speaking to Roselyn Felli on Prime Morning, on Wednesday, the Executive Secretary of the Chamber, Duncan Amoah, indicated that measures are being put in place to help subsidise the rising prices.
“We will be expecting diesel to drop from GH¢23 to somewhere around GH¢21.19, and the petrol will also drop from GH¢17.99 to somewhere GH¢17.10 or GH¢17.00.
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“All things being equal, diesel could go down by GH¢2.00 a litre and petrol could go close to a cedi per litre based on the forex numbers that we have picked over the past one week,” he said.