According to www.mayorcarlos.com, the Bulk Oil Storage and Transportation Company has introduced the Vice President’s Gold for Oil initiative to the Ghanaian oil market (BOST). BOST began selling petroleum goods acquired through the gold for oil barter agreement yesterday, January 19.
According to reports, GOIL and additional bulk oil distribution firms have received fuel for the market.
This initiative is said o solve at least 20% of Ghana’s market needs in the short term.
Even though Bank of Ghana says consumers should not expect to see an immediate reduction in the price of petrol and diesel at the various fuel pumps, Ghanaians are happy the NPP Government is taking this measure which would eventually address the hike in petroleum products.
“I know BOST has started selling, and the merchandise was cleared from the ports today. According to the data I have seen, this only meets 20% of our market’s needs, and the prices are still better than they are at the moment’s ex-pump prices. Sources at Bank of Ghana disclosed.
The first Ship carrying 41,000 metric tons of oil from the UAE under the policy docked at the Tema Port on Monday, January 16, 2023 and it was subsequently discharged to Bulk Oil Storage and Transportation (BOST).
The NPP Government is making frantic effort to reduce fuel prices and reserve the country’s forex of our dear country.
