The National Petroleum Authority (NPA) has disclosed that Ghana currently has sufficient fuel reserves to cushion against potential supply disruptions, with nearly eight weeks of diesel and about seven weeks of petrol import cover.
Speaking at the COMAC Safety Week on Tuesday, April 7, the Chief Executive Officer of the Authority, Godwin Edudzi Tameklo, said measures have been put in place to ensure a stable supply of petroleum products, particularly in light of 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 stated.
Mr. Tameklo further noted that the relative stability of the Ghanaian cedi has played a crucial role in keeping local fuel prices in check, despite significant increases in global refined fuel prices.
He explained that prior to the escalation of tensions, a metric ton of diesel was priced at approximately $695 but has since surged to about $1,337—nearly doubling in value.
“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.
The NPA maintains that ongoing monitoring and strategic planning will continue to safeguard the country’s fuel supply and price stability in the face of global market volatility.
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