The Chamber of Petroleum Consumers, Ghana (COPEC) says the price of petroleum products may see a decline if the oil secured by government is distributed this week.
The Vice President, Dr Mahamudu Bawumia is confident that the gold for oil policy will reduce the pressure on forex and also present the country with cheaper fuel.
The first consignment of petroleum products delivered under the Government’s Gold for Oil Policy can serve consumers between 10 to 15 days, the Bulk Oil Storage and Transportation Company
(BOST) has said.
The first consignment of oil under the governments gold for oil policy, which seeks to stem the depreciation of the cedi against major trading currencies, has arrived at Tema Port and discharged into the receptacles of Bulk Oil Storage and Transportation Company (BOST).