The National Petroleum Authority (NPA) has revealed that Ghana currently holds almost eight weeks of diesel imports and about seven weeks of petrol imports, providing a buffer against potential supply disruptions.
Speaking during the COMAC Safety Week on Tuesday, April 7, NPA Chief Executive Officer Godwin Edudzi Tameklo said authorities have put measures in place to maintain a stable supply of petroleum products amid ongoing tensions 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 further attributed the relatively favourable local fuel pricing to the stability of the Ghanaian cedi, despite global refined fuel prices more than doubling.
“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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