The Ghanaian oil marketing company, GOIL, has denied that its recent 15 pesewas price cut on petrol and diesel was in reaction to government instruction.
As a result, GOIL has challenged the Association of Oil Marketing Companies to show evidence to back up its assertions.
GOIL’s cut occurred only 24 hours after commercial truckers went on a sit-down strike in protest of increasing gasoline costs.
Officials from the Ghana Private Road Transport Union, GPRTU, who met with government officials, alleging they were led to think that the drop in GOIL was influenced by the government.
According to some media accounts, the group claimed that the cut was the consequence of a government mandate and requested the government to retract the decision, implying probable government meddling in a deregulated field.
GOIL, on the other hand, dismissed the claim that the government is intervening in the business as untrue and unjustified in a press release made on Wednesday, December 8, 2021, and signed by its Group CEO and MD, Kwame Osei-Prempeh.
The CEO noted that GOIL, as a publicly traded firm, made the choice entirely and independently in reaction to the severe post-covid-19 circumstances that its stockholders faced.
In his letter, Mr. Kwame Osei-Prepeh maintains that GOIL sacrificed its profit margins in order to cushion the great majority of Ghanaians.
“GOIL wants to state categorically that at no point did the government direct the company to reduce its fuel prices as being alleged,” a press statement signed by the CEO and Managing Director of GOIL Company Ltd, Kwame Osei Prempeh indicated.
The statement also added that “GOIL is a listed company with a constituted Board of Directors and Management and takes decisions based on prudent commercial principles”.
As a result, “GOIL is guided by the fact that the firm is owned by Ghanaians, and that has always informed our pricing policy,” it concluded.
Click Here To Read Full Statement
Read Also: President Akufo Addo pledges to hand over power peacefully
