Gold for oil consignment selling higher than fuel from other sources

He said that prices of gold for oil consignment on the market are higher compared to those from other sources of fuel.

“As we speak currently in the recent pricing window, the gold for oil product that came in are actually selling slightly higher than products that are on the market that the normal BDCs who are not participating in this policy programme, are doing,” he stated in an interview on JoyNews Newsfile on Saturday.

Giving further details, Dr Acheampong said, “Petrol under gold for oil is selling at about 9.6 cedis per litre and from the non gold for oil sources are selling it at about 9.1 cedis per litre.

For this reason he dismissed claims that the gold for oil policy is the reason for a decline in fuel prices at the pumps.

“It cannot be the case that all the drop that we are seeing is truly attributable to this gold for oil policy,” Dr Acheampong reiterated.

Also the March 1 window, PMS was 829.73 and under gold for oil is 785.63,” he said.

I heard the Vice President saying that petrol prices have gone down because of gold for oil…the reason the fuel prices have gone down is that crude prices were over $100 and it has come down to $72 globally