My major concern now is price – NPA boss on fuel supply

Chief Executive of the National Petroleum Authority (NPA) in Ghana, Godwin Edudzi Tamakloe, has expressed his primary concern as pricing rather than fuel supply availability. He assures that the nation possesses sufficient petroleum products to cater to demand for at least six weeks, addressing worries about global supply disruptions and potential export cuts by oil-producing nations.

Additionally, he points to the significant number of fuel vessels currently at sea as further evidence of Ghana's supply situation. However, Tamakloe explicitly states that his main concern is currently the escalating prices. He also dismisses the notion of a fuel supply shortage within the next month, emphasizing the presence of Dangote, a key player in the market.

The increase in minimum price floors for petrol and diesel to GH¢16.00 and GH¢16.77, respectively, began on September 16, a response to international petroleum price fluctuations triggered by supply disruptions. Despite Ghana's heavy reliance on imported refined products, which makes domestic prices vulnerable to international market fluctuations and exchange rate changes, Tamakloe acknowledges the challenges of supply security and fuel price stability in the downstream petroleum sector.

Moreover, he addresses concerns surrounding private-sector stock influence and potential government pressure exertion, reassuring that the private sector-led structure outlined in Act 691 deliberately limits direct state involvement. Nevertheless, he recognizes the potential for private operators to gain excessive control and acknowledges the President's chief concern, striving to prevent the repetition of the 2014-2015 events, where private sector influence threatened national interests.