Edudzi Tamakloe, the newly appointed Acting Chief Executive Officer of the National Petroleum Authority (NPA), has assumed office at a critical juncture.
With looming threats of fuel shortages, ensuring nationwide fuel availability is Tamakloe’s top priority. Fuel costs significantly impact businesses and the broader economy, making this a pressing concern.
To address logistical challenges disrupting petrol supply, particularly in the Northern regions, the NPA has introduced measures granting Oil Marketing Companies (OMCs) special permission to load petrol from the Bulk Energy Storage and Transportation Company (BOST) depot in Kumasi.
However, the rising cost of fuel poses another challenge.
With petrol and diesel prices nearing GH₵16 per litre, public and business concerns over affordability continue to grow. Industry stakeholders, including the Africa Centre for Energy Policy (ACEP), have raised concerns over levies and margins imposed on petroleum products.
Kodzo Yaotse, Policy Lead for Petroleum and Conventional Energy at ACEP, criticized some of these margins as detrimental to consumers.
“We don’t want NPA to be receiving any margins… NPA is already paid to do its work,” he stated.
Another key issue for Tamakloe is the 2024 Petroleum Products Pricing Guidelines, which set a price floor below which OMCs cannot sell their products.
The Chamber of Petroleum Consumers has suggested introducing a price ceiling alongside the price floor to balance market deregulation with consumer protection.
As Tamakloe navigates these challenges, bold decisions will be necessary to stabilize supply, address pricing concerns, and build confidence in Ghana’s petroleum sector.
Baina Multimedia/Khadijahtu Kubura Kailani
Leave a Reply