The National Petroleum Authority (NPA) has sought to ease concerns over Ghana’s fuel supply, saying the country currently has enough petroleum products to cover at least six weeks of domestic demand.
NPA Chief Executive Officer, Godwin Edudzi Tamakloe, said existing stocks, together with fuel shipments currently heading to Ghana, provide sufficient supply to meet the country’s immediate needs.
Speaking on Joy News’ PM Express Business Edition, Mr Tamakloe said the country currently has “not less than six weeks” of fuel cover. He added that several vessels carrying petroleum products were already at sea, further strengthening Ghana’s supply position.
According to the NPA boss, the immediate concern is therefore not fuel availability but the potential effect of international market developments on prices.
He ruled out the possibility of a fuel shortage in Ghana within the next month, pointing to changing strategies among petroleum-exporting countries and the increasing contribution of Nigeria’s Dangote Refinery to regional fuel supply.
His comments come amid tighter global petroleum markets, with international supply disruptions and pressure on refined fuel inventories raising concerns about availability and prices.
Meanwhile, Ghana’s fuel price floors were increased from September 16. Petrol now has a minimum price of GH¢16 per litre, while diesel is pegged at GH¢16.77 per litre and LPG at GH¢10.97 per kilogramme.
BOSTenergies has also clarified that reduced fuel exports to Burkina Faso and Mali should not be interpreted as a sign of an impending shortage in Ghana. The company attributed the reduction mainly to ongoing revamp works at its Bolgatanga depot.
Mr Tamakloe further defended Ghana’s private-sector-led downstream petroleum system, explaining that safeguards have been put in place to prevent a repeat of past situations where disruptions in the sector could severely affect the country.
For now, the NPA maintains that Ghana has adequate fuel supplies, although developments in international markets could continue to put pressure on prices.