NPA Moves To Quell Fuel Panic

The National Petroleum Authority (NPA) has assured Ghanaians that the country has sufficient petroleum reserves to withstand any potential disruptions to global fuel supplies arising from escalating geopolitical tensions in the Middle East, revealing that current stocks of petrol and diesel are enough to last for more than five weeks. The assurance comes at a time when heightened tensions involving key oil-producing nations have renewed concerns over possible interruptions in crude oil supply chains, rising international oil prices and the potential impact on domestic fuel markets. The development also follows the government’s recent intervention to cushion consumers by introducing a GH¢2-per-litre support for diesel after another round of petroleum price increases.

Speaking on Joy News’ PM Business on Thursday, August 6 on the country’s fuel security, the Director of Economic Regulation and Planning at the NPA, Abass Tasunti, stressed that guaranteeing the continuous availability of petroleum products remains the authority’s foremost responsibility, describing fuel security as essential to maintaining economic stability. According to him, while fluctuations in pump prices remain a concern for consumers, the consequences of fuel shortages would be far more severe, with the potential to disrupt transportation, commerce, manufacturing, agriculture and other critical sectors of the economy.

He explained that the NPA operates a carefully coordinated supply management system that combines local production with regular imports to ensure adequate national stock levels throughout the year. “Our topmost priority as a regulator is to ensure the availability of petroleum products at all times,” he said, noting that the authority consistently plans fuel procurement and distribution to prevent shortages.

Mr Tasunti disclosed that Ghana currently maintains a little over five weeks’ worth of petrol and diesel stocks. He clarified, however, that the reserve should not be interpreted as a static volume gradually being depleted, explaining that fresh cargoes are continually arriving to replenish supplies as consumption continues. He said petroleum products are being discharged almost continuously at the country’s receiving terminals under a structured Line-up Programme that schedules imports and ensures seamless replenishment of stocks.

According to him, the absence of idle periods at fuel discharge facilities demonstrates the effectiveness of the country’s supply planning mechanism, with new consignments arriving before existing inventories are exhausted. Beyond imports, the NPA highlighted domestic refining as another critical pillar of Ghana’s fuel security strategy. Mr Tasunti noted that the country’s operational refinery has maintained uninterrupted production since July last year, providing an additional layer of resilience against external supply shocks.

The regulator said the combination of strategic stockholding, continuous importation, efficient logistics planning and sustained local refining has strengthened Ghana’s ability to maintain stable fuel supplies despite volatility in the global energy market. Industry observers note that geopolitical developments in the Middle East continue to influence global crude oil prices because the region accounts for a significant share of the world’s oil production and shipping routes. Any prolonged conflict or disruption to key maritime corridors could place upward pressure on international petroleum prices, with implications for importing countries such as Ghana.

However, the NPA maintains that the country’s proactive planning framework and diversified supply arrangements position it to manage any short-term external shocks while ensuring that consumers continue to have access to petroleum products across the country. The authority affirmed its commitment to closely monitoring developments in the international oil market and adjusting supply strategies where necessary to safeguard national energy security and protect the economy from potential supply disruptions.

Source: Joy News
Author: Joyce Owusu