A cargo vessel carrying 40,000 metric tonnes of diesel under the government’s ‘Gold for Oil’ programme arrived at the Tema Port last Saturday evening, The Chronicle can report.
Another cargo vessel carrying 35,000 metric tonnes of petrol is expected to arrive at the Tema Port yesterday.
The products are being procured by the Bulk Oil Storage and Transportation Company (BOST) from LITASCO, an oil and gas dealer, and they (products) would undergo sampling before distribution to the fuel market.
This is the second delivery of oil within two months, after the first one in January 2023, when about 41,000 metric tonnes of diesel was delivered under the same ‘Gold for Oil’ programme, which the government introduced as part of measures to stem the rise in fuel prices and depreciation of the cedis.
Edwin Alfred Provencal, Managing Director of Bulk Oil Storage and Transportation Company (BOST), last week Monday, told Accra-based Asaase Radio that four cargoes of petrol and diesel under the government’s ‘Gold for oil’ programme were expected during the week.
He explained that the tankers would arrive in different batches, and was emphatic that the first tanker of petrol would arrive in the country last weekend.
“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,” Mr Provencal said.
Mr. Provencal said the delivery of the consignments by Ghana expects prices of a litre of petrol to fall by, at least, GH¢1 and diesel by a further 50 pesewas at the pumps during the next pricing window.
However, before the arrival of the product last Friday night, Oil Marketing Companies (OMCs) adjusted their pump prices downward last Thursday, with some reducing petrol by 80 pesewas while diesel saw a 35 pesewas reduction.
That was a result of the every two weeks fuel prices review. Currently, a litre of petrol sells between GH¢13.99 and GH¢14.50 while diesel is sold between GH¢14.59 and GH¢14.90.
With the arrival of the oil products at the Tema Port for onward delivery by BOST, fuel prices are expected to reduce drastically to relieve the public.
