The National Petroleum Authority (NPA) has announced that Ghana currently holds close to eight weeks’ worth of diesel supplies and roughly seven weeks of petrol reserves, offering a safety net against possible supply interruptions.
Speaking at the COMAC Safety Week on Tuesday, April 7, the NPA Chief Executive Officer (CEO), Godwin Edudzi Tameklo, stated that officials have introduced steps to ensure a steady flow of fuel products amid ongoing unrest in the Middle East.
“Today in Ghana, for diesel, we have almost eight weeks of import cover. For petrol, we have almost 6.8 weeks. We just concluded our legal advisory meeting last week, and we have vessels scheduled up to the 19th of April — 10 vessels currently on the high seas,” he said.
He went on to explain that the relatively favourable local fuel pricing is due to the strength of the Ghanaian cedi, even though international refined fuel costs have more than doubled.
“Before the war, a metric ton of diesel cost around $695. Today, the price is $1,337 — almost twice as much. Yet, have pump prices doubled? No. If it weren’t for the relatively stable exchange rate, local fuel prices would have doubled by now,” he added.
