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

Ghana's Chief Executive of the National Petroleum Authority, Godwin Edudzi Tamakloe, has addressed growing concerns over fuel supply and prices in the country. Mr. Tamakloe affirmed that the nation possesses sufficient petroleum products to sustain demand for up to six weeks, dispelling worries about potential export cuts by oil-producing nations.

He further noted that the presence of numerous fuel vessels at sea bolsters Ghana's supply assurance. However, Mr. Tamakloe clarified that his primary concern right now is not fuel availability, but rather fuel prices. He dismissed rumors of an impending fuel shortage within the next month, asserting, "Dangote is here," a reference to the significant input of Dangote Refinery in stabilizing the market.

The NPA's recent pricing window, implemented on September 16, raised the minimum price floor for petrol to GH¢16 per litre and diesel to GH¢16.77, in response to the volatility in global petroleum product prices due to global supply disruptions. Despite acknowledging that Ghana's fuel market is subject to international market fluctuations and currency exchange rates, Mr. Tamakloe defended the sector's private-led structure, emphasizing the role of Bulk Distribution Companies and Oil Marketing Companies.

He reassured that such a scenario would not reoccur, acknowledging the concerns voiced by the President of the Republic about private sector influence over the nation.