Fuel shortage: NPA assures of enough diesel stocks to last for three weeks

Dr Mustapha Hamid1212 Dr. Mustapha Abdul-Hamid, NPA Chief Executive Officer

Tue, 10 May 2022 Source: www.ghanaweb.com

Supply chain disruptions affect fuel prices

Diesel crosses GH¢11 mark

Price of petrol records marginal decrease

The National Petroleum Authority (NPA) has assured consumers of petroleum products that there is enough stock of diesel to meet demand for close to three weeks, a Joy Business report has said.

The development comes after disruptions in the global supply chain has pushed the prices of diesel to new highs.

The Institute of Energy Security (IES) on Friday, May 6 projected a shortage of diesel in the coming months due to disruptions on the international market as a result of Ukraine-Russia tensions.

Major Oil Marketing Companies (OMCs) in Ghana have already begun selling diesel at GH¢11.24 pesewas across various pumps from an earlier GH¢10.70 pesewa per litre price.

Prices of petrol, however, are selling at GH¢9.35 pesewas after previously selling at GH¢9.80 when it crossed the GH¢8 mark earlier this year.

Despite these concerns, the National Petroleum Authority said it has adequate stocks to last for about three weeks. The Authority added that government is taking stringent measures to ensure further shortages are averted in order to meet the demand for consumers.

According to Joy Business, government, as part of its efforts has reached an agreement with transporters of finished petroleum products who import and store at their fuel depots in a bid to ensure the availability of stocks.

This arrangement, the portal said is aimed at shielding the country from the ongoing supply chain disruptions on the international market.

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Source: www.ghanaweb.com
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