The reduction which has taken effect at all GOIL fuel station means that Diesel XP is now selling at GHC4.32 and Super XP at GHC4.32.
The reduction is coming at a time when Greater Accra, parts of Kumasi, and Obuasi are under partial lockdown due to the COVID-19 pandemic.
Businesses have been affected by pandemic worldwide and businesses in Ghana have not been left out of this struggle.
The reduction of fuel prices by GOIL means that petrol consumers who buy from them can save some money which can be used for other essential expenses at this critical time.
The price of gas has also reduced by a significant margin.
This is happening when the National Petroleum Authority (NPA) has introduced a GHC13.5 cylinder investment margin. The cylinder investment margin is to help the LPGMCs pay some of the costs involved in procuring and branding cylinders for the new energy policy (the Cylinder Recirculation Model).
The Chief Executive Officer of the Chamber of Petroleum Consumers Ghana (COPEC Ghana), Duncan Amoah, has welcomed the 10% reduction by GOIL.
In an interview with DGN Online, Mr Amoah said the Chamber did not expect a 10% reduction, saying “10 is just good enough.”
He, therefore, urged other Oil Marketing Companies to follow suit.
He also encouraged GOIL and other players in the industry to sustain the reduction after the coronavirus pandemic so consumers can really benefit.
Meanwhile, he entreated OMCs to help protect their consumers by providing them personal protective equipment so they do not contract coronavirus.