Ghana’s foremost Oil Marketing Company and CIMG Petroleum Company of the year, GOIL, has yet again announced a price reduction in its petroleum products effective October 3rd, 2017.

According to GOIL, the decision to reduce the prices come as a result falling petroleum prices on the international market. Hence as a market leader, GOIL deems it important to keep faith with the consuming public by equally adjusting it prices downward.

"Thankfully prices are getting down so we had to quickly review our prices to move in tandem with the industry. And because we are the pacesetters, I am sure that you would see that everybody will follow suit", Chief Operating Officer, Alex Adzew, explained.

According to GOIL, petrol or Super XP has been reduced by 5pesewas from 4 cedis 41 pesewas to 4 cedis 36 pesewas whiles diesel has been reduced by some 2 pesewas from 4 cedis 272 pesewas to 4 cedis 270 pesewas.

Addressing some fuel station managers in Accra, the Chief Operating Officer of GOIL, Alex Adzew, said in addition to the price reduction of its fuel, it has also invented mobile vans which go round the entire country to inspect the quality of its products to ensure their total efficiency for the consuming public.

He said, "We always have to find a way to ensure that that the integrity of the product is kept intact right from the loading point to the service stations. So what we have done is to ensure that we will track this product so that at the point of delivery we are very sure that all the parameters are in place".

He added that so far the van has been to several of the about 300 GOIL filling stations across the country to conduct the inspection and the results has been great.

"So far so good we are giving everybody the assurance that we believe in quality and therefore everybody should troop to our stations because they know that they are going to get value for their money".

It will be recalled that in March, this year 2017, Ghana Oil Company reduced prices of its fuel twice in that month.

The company says it believes that as a market leader offering products such as marine gas for vessels, aviation fuel for airline, petrol and diesel for vehicles, lubricants and so on, it will continue to be a benchmark for competitive fuel pricing of the industry in Ghana and also guarantee customers of quality fuel and fuel products.