Chief Executive of the Chamber of Oil Marketing Companies (COMAC), Dr. Riverson Oppong, has expressed serious concerns about the critically low fuel reserves held by the Bulk Oil Storage and Transportation Company (BOST).
He warned that the current stock may not sustain the country’s fuel supply for more than a week, calling the situation “terrifying.” Amid escalating tensions in the Middle East, there is increasing anxiety about Ghana’s dependence on imported fuel, which heightens the risk of supply disruptions. Dr. Oppong highlighted that BOST lacks its own emergency stock, which could jeopardize national fuel availability.
He noted that BOST is struggling to obtain necessary clearance from the Ministry of Energy and the National Petroleum Authority (NPA) to import fuel, placing it at a disadvantage compared to private importers. Without the required authorisation note, known as LECAN, BOST cannot bring in new fuel shipments. Similar concerns have been raised by the Chamber of Petroleum Consumers (COPEC), which warned that the lack of reserves could lead to rising fuel prices if global tensions continue. Dr. Oppong’s comments underline the urgent need for action to address the fuel supply situation in Ghana.