Ghanaian owned oil Marketing Company, GOIL, has rejected assertions that its decision to maintain prices of petroleum products for the second pricing window in January is a deliberate attempt to distort pricing in the petroleum downstream sector.<\/p>\n
[contextly_sidebar id=”ZsoHTCu8YfSLga0Yl91FtXU0g5yOQsRB”]According to some industry observers, the move defeats the primary purpose of the downstream petroleum price deregulation regime.<\/p>\n
But the Chief Operating Officer of Goil\u2019s Bulk Distribution Company; Go Energy, Gyamfi Amankwaa explains to Citi Business News<\/strong> the reports are false.<\/p>\n \u201cPeople think government is subsidizing Goil but that is not true; rather it is government which owes Goil,\u201d he explained.<\/p>\n Prices of petroleum products went up between 4 and 10 percent for the second pricing window in January.<\/p>\n This measures against a similar increase in the first pricing window where prices increased between 8 and 11 percent.<\/p>\n At the time, Goil increased its prices for a litre of petrol to 4 cedis 8 pesewas while diesel also went up to 3 cedis 99 pesewas.<\/p>\n But Mr. Amankwaa further explained that the pricing is largely based on market decisions and available supply at any point in time.<\/p>\n \u201cWhen I get new parcels which fall within the window, I will adjust but if I have an old parcel of fuel and prices go up I can decide to adjust prices or not; these are market decisions. We price based on the cargo that we receive.\u201d<\/p>\n Meanwhile the BDC boss has given indication the prices of the petroleum products will be adjusted if the conditions make it necessary.<\/p>\n \u201cAs at now what I know is that the prices of GOIL have not been increased, the company may increase its prices but it is yet to come up,\u201d<\/p>\n –<\/p>\n By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" Ghanaian owned oil Marketing Company, GOIL, has rejected assertions that its decision to maintain prices of petroleum products for the second pricing window in January is a deliberate attempt to distort pricing in the petroleum downstream sector. [contextly_sidebar id=”ZsoHTCu8YfSLga0Yl91FtXU0g5yOQsRB”]According to some industry observers, the move defeats the primary purpose of the downstream petroleum price deregulation […]<\/p>\n","protected":false},"author":14,"featured_media":213994,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,171,170,11],"tags":[],"class_list":["post-286570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-economy","category-oil-and-gas","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/286570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=286570"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/286570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/213994"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=286570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=286570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=286570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}