The National Petroleum Authority (NPA) says Ghana currently has more than five weeks’ worth of petrol and diesel stocks, as it moves to ease concerns over possible fuel supply disruptions linked to rising tensions in the Middle East.
The assurance comes amid growing uncertainty over global oil markets and the potential impact of conflict involving major oil-producing countries on crude oil prices and petroleum supplies.
It also follows the government’s decision to absorb GH¢2 per litre of diesel costs to cushion consumers after the latest increase in petroleum prices.
Speaking on JoyNews’ PM Express Business Edition on Thursday, NPA Director of Economic Regulation and Planning Abass Tasunti said maintaining uninterrupted fuel availability remains the regulator’s primary responsibility.
He explained that the NPA plans petroleum supplies by combining local production with imports to ensure the country maintains adequate stocks and avoids shortages.
Mr. Tasunti said current inventories provide Ghana with slightly more than five weeks of supply for both petrol and diesel.
He stressed, however, that the figure should not be interpreted as a fixed reserve that the country is gradually exhausting. According to him, fuel stocks are continuously replenished as new shipments arrive.
He said vessels are regularly discharging petroleum products at the country’s receiving facilities, with the NPA’s Line-up Programme helping to schedule and coordinate incoming supplies.
Mr. Tasunti also identified local refining as an important part of Ghana’s supply security, noting that domestic refinery operations have continued consistently since July last year.
The NPA said the combination of regular imports, continuous discharge of petroleum products and local refining is helping to maintain adequate fuel availability despite uncertainty in the international oil market.