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Ghanaian oil marketing giant, GOIL, has refuted suggestions that its latest 15 pesewas price reduction on petrol and diesel was in response to a directive from the government. GOIL has thus challenged the Association of Oil Marketing Companies to provide proof of its claims. GOIL’s reduction came barely 24 hours after commercial drivers embarked on a sit-down strike in protest against rising fuel cost. Officials of the Ghana Private Road Transport Union, GPRTU, who had met with government officials claim...
Read morePRESS RELEASE We have followed with keen interest, discussions over the recent publication on the sulphur content in diesel or gasoil by Public Eye, a Swiss based organisation. We do appreciate the research and advocacy work undertaken by Public Eye in heightening public interest in such a very important matter. While we do have some reservations about key factual misrepresentations in the report, we do accept the call for a major review of the country’s specifications and diesel supply...
Read moreThe Chief Executive officer (CEO) of the Ghana Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has defended the Chamber's decision to increase fuel prices by 15% saying the increase could even be more. “Barring any particular policy decision, as far as subsidies are concerned, prices are supposed to go up, it may be probably a little higher than that . And that is a function of the regular pricing structure,” he said. Prices of petroleum products are expected to...
Read moreCBOD, the Ghana Chamber of Bulk Oil Distributors has announced that this week, there will be a 15 per cent reduction in petroleum product prices.According to Senyo Hosi, the Chamber Chief Executive Officer, the decrease has become essential due to the peripheral decrease in the global market price for refined petroleum product prices.He is cited by the Daily Graphics as saying that one good news is the Cedi’s performance against other main foreign exchanges, especially the dollar.The Cedi’s performance is...
Read moreThe Ghana Chamber Bulk Oil Distributors (BDCs) has appealed to Oil Marketing Companies (OMCs) to further reduce prices of petroleum products to reflect reliefs they are getting from them.There has been a 25 % reduction in oil prices but some OMCs have only sanctioned close to 15% reduction in price of petrol. Some stakeholders have criticised the new prices, arguing that it should have been reduced by more than the 15 %.The Chief Executive Officer of the Chamber, Mr. Senyo Horsi on...
Read moreThe Chief Executive officer (CEO) of the Ghana Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has said that the decision by the government to allow the private sector to determine the prices of petroleum products will not automatically reduce the prices of those products .Mr. Hosi believes prices of petroleum products will keep rising until government removes some of the taxes and ensures that the exchange rate is reduced.The CBOD chief made these comments, when his outfit organized a day’s training...
Read moreThe Chief Executive Officer of the Chamber of Bulk Oil Distributors (BDCs) Senyo Hosi has denied confessing to the bribery allegations being levelled against him in a leaked tape currently in circulation. At a press briefing in Accra, Mr. Hosi said the leaked tape is a quest to deliberately malign his reputation and that of the members of the Chamber by creating the impression that “the accusations of bribery to connive and rob BOST are true.” According to a Daily Graphic...
Read moreThe Chamber of Bulk Oil Distributors is advising Ghanaians to embrace impending International Monetary Fund (IMF) programme that will eliminate government subsidies on petroleum products.The IMF in a statement on Friday announced some targeted key areas which its final programme for Ghana will help bring the ailing economy back on track.It among other things, identified the costly and untargeted subsidies for energy and petroleum products which they say must be eliminated, with a better prioritization of capital spending.Reacting to the...
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