The GOIL Company Limited (GOIL) has with immediate effect withdrawn its membership from the Association of Oil Marketing Companies (AOMCs).
GOIL's decision followed accusations by the AOMCs that its recent reduction in fuel prices was influenced by the Government of Ghana, a major shareholder in the company.
The AOMC had written to the Energy Minister, Dr Matthew Opoku Prempeh, asking the government to stay away from the price deregulation as being implemented by Oil Marketing Companies.
In a strongly-worded statement to the AOMCs, GOIL said, "the Association [AOMCs] has shown gross disrespect to the company and treated it with contempt and public ridicule and has therefore decided to suspend its membership of the Association immediately."
The statement signed by the CEO and Managing Director of GOIL Company Ltd., Kwame Osei Prempeh denied that the government directed it to reduce its fuel prices as alleged by the AOMCs.
The statement 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.
Following a sitdown strike by some driver unions, the government held a meeting with the transport operators to deal with the impasse.
In an interview on JoyNews' PM Express Monday, GPRTU spokesperson, Abass Imoro after the meeting with the government revealed that GOIL was to review its fuel prices downwards as an interim measure to cushion the transport operators and the motoring public.
Aside from this interim measure, Mr Imoro also stated that the government promised to remove some petroleum taxes in the 2022 mid-year budget.
Soon after, GOIL reviewed prices at the pump downward by 15 pesewas.
But GOIL said its pricing policy takes into consideration the welfare of the ordinary Ghanaians and cushion them in the difficult post-COVID period.
Latest Stories
-
Ghana and Seychelles strengthen bilateral ties with focus on key sectors
16 mins -
National Elections Security Taskforce meets political party heads ahead of December elections
20 mins -
Samsung’s AI-powered innovations honored by Consumer Technology Association
40 mins -
Fugitive Zambian MP arrested in Zimbabwe – minister
58 mins -
Town council in Canada at standstill over refusal to take King’s oath
1 hour -
Trump picks Pam Bondi as attorney general after Matt Gaetz withdraws
1 hour -
Providing quality seeds to farmers is first step towards achieving food security in Ghana
2 hours -
Thousands of PayPal customers report brief outage
2 hours -
Gary Gensler to leave role as SEC chairman
2 hours -
Contraceptive pills recalled in South Africa after mix-up
2 hours -
Patient sues Algerian author over claims he used her in novel
2 hours -
Kenya’s president cancels major deals with Adani Group
2 hours -
COP29: Africa urged to invest in youth to lead fight against climate change
3 hours -
How Kenya’s evangelical president has fallen out with churches
3 hours -
‘Restoring forests or ravaging Ghana’s green heritage?’ – Coalition questions Akufo-Addo’s COP 29 claims
3 hours