The National Petroleum Authority (NPA) has disclosed that the country currently maintains nearly eight weeks of diesel stock and about seven weeks of petrol import cover, providing a buffer against possible supply disruptions.
Speaking at the COMAC Safety Week on Tuesday, April 7, Chief Executive Officer Mr. Godwin Edudzi Tameklo, Esq., said the country has strengthened its petroleum supply chain to ensure stability despite ongoing geopolitical tensions in the Middle East.
He noted that Ghana has approximately eight weeks of diesel import cover and about 6.8 weeks for petrol, adding that authorities recently concluded a legal advisory meeting and have scheduled multiple fuel vessels expected to arrive, with about 10 ships currently on the high seas and due by April 19.
Mr. Tameklo explained that these arrangements are part of broader efforts to safeguard fuel availability and prevent shortages in the domestic market.
He also pointed to the role of exchange rate stability in cushioning consumers from global price shocks, noting that although international refined fuel prices have risen sharply, local pump prices have remained relatively stable.
He compared global market movements, stating that the price of a metric tonne of diesel has increased from about $695 before the conflict to around $1,337 currently—almost double. However, he said pump prices in Ghana have not doubled due largely to the stability of the cedi.
According to him, without the relatively stable currency environment, domestic fuel prices would have reflected the full impact of global increases.