The National Petroleum Authority (NPA) has disclosed that Ghana currently holds nearly eight weeks’ worth of diesel imports and close to seven weeks of petrol imports, ensuring a cushion against possible supply interruptions.
Speaking at the COMAC Safety Week on Tuesday, April 7, NPA Chief Executive Officer Godwin Edudzi Tameklo said measures have been instituted to safeguard the steady flow of petroleum products despite ongoing instability 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 stated.
Tameklo further explained that the relative stability of the Ghanaian cedi has helped keep local fuel prices in check, even as global 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.
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