GOIL PLC has maintained its fuel prices for the first pricing window of February, defying market expectations of an upward adjustment predicted by energy experts.
Under the current pricing arrangement, petrol (PMS) is selling at GH¢9.99 per litre at 200 GOIL filling stations nationwide, while the remaining 247 outlets are selling at GH¢10.99 per litre. Diesel (AGO) is priced at GH¢11.21 per litre at selected stations, with Super XP 95 maintained at GH¢13.97 per litre across outlets.
GOIL, Ghana’s strategic indigenous oil marketing company, announced on Monday that its targeted pricing intervention aligns with the National Petroleum Authority (NPA) approved floor price of GH¢9.99 per litre for petrol for the first pricing window of February.
The company also increased the number of stations selling petrol at GH¢9.99 from 150 in the January pricing window to 200 out of its 447 outlets nationwide.
According to GOIL, the pricing intervention is aimed at easing transportation costs and ensuring that recent economic gains translate into tangible relief for ordinary Ghanaians.
A statement from the GOIL Corporate Affairs Department, copied to Modern Ghana News in Accra, explained that “this initiative is deliberately designed to protect vulnerable segments of society, particularly commercial drivers, public transport operators, farmers, traders, and low-income households, who are most affected by transport and food costs.
“The selected outlets are strategically located along major transport corridors and near commercial vehicle terminals to ensure the benefits are felt where economic pressures are highest.”
Meanwhile, the Group Chief Executive Officer of GOIL PLC, Mr Edward Abambire Bawa, said the decision was taken despite market indicators suggesting fuel prices should be rising.
“At a time when prevailing market indicators suggest that fuel prices should ordinarily be trending upwards, GOIL’s decision to match the regulated floor price and discount diesel reflects its commitment to cushioning customers from cost pressures while remaining fully compliant with regulatory guidelines,” he stated.
Mr Bawa noted that GOIL’s pricing strategy reflects a deliberate corporate plan to pass efficiency gains and favourable macroeconomic conditions directly on to consumers.
“At GOIL, our strategy is not only to guarantee the consistent supply of high-quality petroleum products but also to make them affordable to the average Ghanaian,” he said.
“This approach aligns fully with the vision of His Excellency President John Dramani Mahama, which places strong emphasis on easing the cost of living, strengthening domestic purchasing power, and ensuring that national institutions play their part in delivering tangible economic relief to citizens.”
He added that credible price relief must be practical, transparent, and deliverable, stressing that GOIL’s intervention demonstrates that meaningful reductions begin with pricing at or below approved benchmarks.
“Through the alignment of prices with the regulator and extending further relief on diesel, GOIL continues to set the standard for responsible competition in the downstream petroleum sector,” he said.
Mr Bawa further assured customers that the pricing adjustments have not compromised fuel quality.
“GOIL’s products continue to meet and exceed regulatory specifications and are enhanced with advanced performance additives, ensuring engine efficiency, durability, and superior value for money for customers,” he said.
He added that the intervention is expected to help stabilise transport fares, reduce the cost of transporting food from farms to markets, and moderate prices of essential goods.
The Managing Director encouraged motorists and transport operators to take advantage of the reduced prices at designated GOIL stations, saying, “GOIL remains steadfast in its mission to provide Good Energy, energy that is affordable, dependable, and impactful, to power Ghana’s growth and support the everyday lives of its people.”
Mr Bawa also expressed the appreciation of the Board, Management and Staff of GOIL PLC to customers and stakeholders for their continued trust and patronage, reaffirming the company’s commitment to remain a reliable partner in Ghana’s energy value chain.
