GOIL Company Limited has refuted assertions that of being authorized by the government to reduce fuel prices.

According to them, the proclamations by the Association of Oil Marketing Companies (AOMC) are erroneous.

“GOIL wants to state categorically that at no point did the government ‘direct’ the company to lessen its fuel prices as being claimed by circulated,” a press declaration approved by the CEO and Managing Director of GOIL Company Ltd, Kwame Osei Prempeh revealed.

The statement also noted that “GOIL is a listed company with a constituted Board of Directors and Management and takes rulings established on prudent marketable principles”, adding that GOIL is counselled by the fact that the company is owned by Ghanaians and that has always affected our pricing policy.”

According to Mr Osei Prempeh, the oil marketing company decided to offer up part of its margin in the pricing window for the advantage of its customers and Ghanaians as a result of the “agitation of transporters and concerns of Ghanaians.”

“In the previous window, GOIL lessened prices by 14 pesewas without any basis of being ‘directed’ by the government to do so and on the occasion, GOIL agreed to reduce its prices after taking all the necessary steps to shield its business.”

Due to the above mentioned, Osei Prempeh however stated that he is stunned that the AOMC found its voice and the effrontery to make such a claim.

He further challenged the Association to provide proof for its allegations.

The company said the action by the AOMC amounts to gross disrespect and contempt, therefore, has decided to suspend its membership.

“GOIL is a responsible company fully aware of the deregulated environment in which we operate. The allegation that the government is interfering in the industry is unfounded. GOIL has the right as any other OMC to determine prices, the statement said

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