Gold For Oil: Four cargoes of petrol and diesel to arrive in Ghana – BOST MD
13th February 2023
The Managing Director of Bulk Oil Storage and Transportation Company (BOST), Edwin Alfred Provencal, has disclosed that about four cargoes of gasoline (petrol) and gasoil (diesel) under the government ‘Gold for oil’ programme are expected to arrive in the West African nation’s port in the next couple of days.
Giving break down of the arrival fuel consignment, Edwin Provencal said one cargo of gasoline (petrol) would be arriving in the country this weekend.
He said after the arrival of the gasoline this weekend, two cargoes of gasoil (diesel) would also arrive after which another cargo of gasoline (petrol) would also arrive.
Speaking on Asaase Radio’s breakfast show on Monday, Mr Provencal said he expects petrol prices to fall by at least Gh¢1 at the pump during the next pricing window.
He added that the price of diesel would also fall further by around 50 pesewas.
Last month about 41,000 metric tons of diesel were delivered under the gold for oil programme.
The government introduced the gold for oil programme as part of measures to stem the tide of fuel prices and depreciation of the Ghanaian cedis.
Last week, GOIL and Shell reduced the price of diesel, with GOIL reducing it by 50 pesewas while Shell reduced it by 45 pesewas.
The reduction was attributed to the gold for oil programme.
Meanwhile, several industry players have raised questions about the programme, citing a lack of transparency.