Major fuel importers have prioritised the domestic market over exports to neighbouring countries amid supply challenges, the Ghana Chamber of Bulk Oil Distributors (CBOD) has said.
The Chamber’s Chief Executive Officer, Dr Patrick Kwaku Ofori, said leading suppliers had consistently maintained deliveries to Ghana and competed fairly throughout the crisis.
Speaking on Joy News’ PM Express Business Edition on Thursday, he said meeting the needs of Ghanaian consumers had taken precedence over pursuing export opportunities.
“Almost all the big guys who were leading on the various news that were published consistently have served, and they have competed fairly and served the Ghanaian public before even thinking about exports into our neighbouring countries,” he said.
Dr Ofori also assured consumers and oil marketing companies that the country would continue to receive adequate supplies of petroleum products.
He said cargo arrangements had been secured to sustain deliveries through December, adding that the measures would help prevent the fuel queues reported in other countries.
“And we can also assure the consuming public and our partners, the oil marketing companies, that supply will never be an issue,” he stated.
CBOD defends industry practices
Dr Ofori attributed the continued availability of fuel partly to what he described as ethical business practices among CBOD members, alongside cooperation and awareness among consumers and oil marketing companies.
He said the Chamber monitored its members and encouraged self-regulation to prevent exploitation of consumers.
“We even self-regulate ourselves and ensure that nobody takes advantage of the consuming public,” he said.
He added that members had maintained transparency in their dealings with the regulator and had avoided arbitrary price increases.
Dr Ofori explained that distributors needed to sell petroleum products already imported and priced so they could recover their investments and finance subsequent consignments.
The proceeds, he said, were necessary to meet payment obligations to international trading partners and banks that provide financing for fuel imports.
He maintained that prioritising the domestic market, together with responsible industry practices, would help sustain fuel availability and protect Ghanaian consumers amid the supply challenges.
