Fuel supply remains stable despite tax concerns — Bulk Oil CEO
19th March 2026
The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Patrick Kwaku Ofori, has assured that Ghana is not at risk of an immediate fuel shortage despite concerns over taxes and supply levels.
Speaking on Joy FM’s Top Story on March 18, 2026, Dr Ofori credited the stability in fuel supply to strong private sector involvement following the deregulation of the downstream petroleum industry.
He explained that although Ghana is said to have about seven weeks of fuel reserves, roughly 90 percent of diesel stocks are held by private companies on behalf of the country.
According to him, local production currently accounts for about 30 percent of daily fuel consumption, further strengthening supply security.
Dr Ofori emphasised that while fuel availability is not a concern, pricing remains largely influenced by global crude oil market trends, including increasing shipment premiums in West Africa.
He also noted that national fuel stock levels are assessed daily after terminal operations, with the data used to guide import decisions.
Despite challenges such as high insurance costs and rising vessel charges, he disclosed that all fuel cargoes scheduled for delivery through April have been secured.
Dr Ofori assured that Ghana’s fuel supply will remain stable in the weeks ahead, even as global price fluctuations persist.