Deputy Energy Minster, Andrew Egyapa Mercer

Deputy Energy Minister, Andrew Egyapa Mercer, has disputed claims that government directed the GOIL Company Limited (GOIL) to reduce its fuel prices at the pumps.

In an interview on JoyNews’ PM Express on Monday, the Head of Communications at the GPRTU, Abass Imoro, after a meeting with government, revealed that GOIL was to review its fuel prices downwards as an interim measure to cushion the transport operators and the motoring public.

This was subsequently followed by some accusations levelled against GOIL by the Association of Oil Marketing Companies (AOMC), which then wrote to the Energy Minister, Dr Matthew Opoku Prempeh, asking government to stay away from the price deregulation as being implemented by Oil Marketing Companies.

But speaking to JoyNews in an interview on Wednesday, Deputy Energy Minister, Egyapa Mercer, said GOIL reduced its pump price due to a drop in world prices.

Fuel pricing in Ghana is deregulated, meaning prices at the international market directly impact prices locally.

That notwithstanding, currency depreciation and taxes also significantly impact fuel prices.

“I can confirm to you that the President has not, and did not issue any such directive to GOIL or any company for that matter to review their prices.”

“Indeed, if you look on the internet now, you can see that as of November 21, the price of crude has risen as high as $85 per barrel [but] as of today, it has dropped to $75 per barrel,” the Sekondi legislator explained.

In response to this, GPRTU’s spokesperson, Abbas Imoro, insisted government made the promise during the stakeholder engagement.

“I will say where I’ve grown to, I don’t think I should be allowed by somebody to use me, or we are in to mislead our people; not at all.”

Meanwhile, “GOIL wants to state categorically that at no point did the government ‘direct’ the company to reduce its fuel prices as being alleged and circulated,” a press statement signed by the CEO and Managing Director of GOIL Company Ltd, Kwame Osei Prempeh indicated.

The statement dated December 8 also noted that “GOIL is a listed company with a constituted Board of Directors and Management and takes decisions based on prudent commercial principles”, adding that “GOIL is guided by the fact that the company is owned by Ghanaians and that has always influenced our pricing policy.”

Akufo-Addo never directed GOIL to reduce its fuel prices - Egyapa Mercer
Akufo-Addo never directed GOIL to reduce its fuel prices - Egyapa Mercer



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