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":[],"categories":[32,171,170,11],"tags":[],"yoast_head":"\n