GOIL is ready for a tough fight to retain its position in Ghana’s fuel market as competition from Star Oil intensifies, Chief Executive Officer Edward Bawa has said.

The two oil marketing companies have been engaged in a price battle as they compete aggressively for customers in the downstream petroleum market.

Mr Bawa, however, says GOIL will not easily surrender its market share to its rival.

“Our relationship has been businesslike. They are competitors like us. They want to do well. All of us are competing for the same market, and we are using the strategies we find best to win that customer.

"I wish my brother [Philip Kwame Tieku] the best of luck, but GOIL will be a tough nut to crack,” he said.

Speaking on Joy News’ PM Express Business Edition on Thursday, Mr Bawa described the competition between the two companies as healthy, despite the intense battle for consumers.

He said both companies are pursuing strategies they believe will help them win customers in an increasingly competitive market.

Mr Bawa also revealed that although he has a cordial relationship with Star Oil’s Chief Executive Officer, Philip Kwame Tieku, the two have never met personally.

“Surprisingly, we have never met, but at least we have a social media relationship, and that’s well,” he said.

He said Mr Tieku’s gesture of wishing him a happy birthday had also strengthened their cordial relationship.

“And to be very frank, I was touched when he wished me a happy birthday on my birthday. I mean, that shows maturity. That irrespective of the fact that we are combatants in the business world, on a personal level we can still be friends. So there’s a healthy relationship. It’s a very healthy one,” Mr Bawa added.

His comments come as competition in Ghana’s fuel retail market sharpens, with price becoming a key battleground for oil marketing companies seeking to attract and retain motorists.

While Star Oil has increasingly challenged established players with competitive pricing, Mr Bawa’s position signals that GOIL intends to defend its market position through its own competitive strategies.