The Group Managing Director and Chief Executive Officer (CEO) of GOIL PLC, Edward Abambire Bawa, has dismissed claims by some industry players that fuel prices could be further reduced, describing such assertions as lacking credibility.
In a post on his Facebook page, Mr. Bawa noted that while certain Oil Marketing Companies (OMCs) are calling for deeper cuts, they have yet to sell Premium Motor Spirit (PMS) at the National Petroleum Authority (NPA)-approved floor price of GHS 9.80 per litre in the current pricing window.
According to him, these OMCs are instead selling PMS at GHS 9.97 per litre, above the regulated floor price, raising questions about the validity of their claims.
“These are NPA-approved floor prices. If, as an OMC, you are calling for the opportunity to reduce prices further, it is reasonable to ask why you have not first reduced your PMS price to at least the floor of GHS 9.80,” he stated.
Mr. Bawa emphasised that advocating for further price reductions while selling above the approved floor undermines the credibility of such demands, urging industry players to align their pricing actions with their public statements.
