The Chief Executive Officer and Managing Director of GOIL Ghana, Edward Bawa, has clarified that his recent banter with Philip Tieku, CEO of StarOil Ghana, regarding a proposal to sell fuel at discounted rates during nighttime, was aimed at safeguarding the stability of the petroleum industry.
His comments follow a recent social media post by the CEO of StarOil Ghana, Philip Kwame Tieku, suggesting a plan to reduce fuel prices by GH¢9.50 per litre between 10:00 p.m. and 4:00 a.m. to support the night-time economy.
In response, Mr Bawa criticised the proposal, arguing that it would breach the pricing structure set by the National Petroleum Authority, which at the time maintained a price floor of GH¢9.80.
Speaking in an interview with Bernard Avle on Channel One TV’s The Point of View on Monday, March 16, Mr Bawa said that although the idea could be aimed at attracting customer loyalty, it risked destabilising the industry.
“The challenge I had with my brother was a healthy exchange, which I respect him. They taking the floor out was going to jeopardise the industry as a whole. Even with Bulk Distribution Companies, there’s a cost you will incur. There are charges you will pay. Who accounts for those charges? He asked.
He suggested that a more appropriate approach would have been to maintain the price floor while exploring incentives within that framework.
“When you say that they should take off the floor, the least you could have done in the night economy is to equalise the floor,” he asserted.
Mr Bawa further noted that GOIL Ghana was among the first to implement the approved price floor during the February 2026 pricing window, adding that StarOil Ghana followed shortly after.
“In all this, GOIL was the first to hit the floor. Our price floor was the first window of February 2026 in selected stations. When we did, StarOil also hit the floor,” he said.
