CEO of the National Petroleum Authority, Dr. Mustapha Abdul-Hamid
The National Petroleum Authority (NPA) has assured that the country has adequate stocks of diesel to meet demand for about three weeks.
This is despite current global supply challenges that has pushed price of the product to new highs.
The price of diesel has seen some significant increase on the international market over the past two weeks.
But this is due to the difficulty experienced by transporters in moving the commodity around, and not development on the international market.
However, fresh sanctions by the European Union targeted at Russia’s crude oil could be a major reason.
The development has raised concerns about the status of Ghana’s stocks (diesel), but Joy Business sources at the NPA says there’s adequate stocks enough to last about three weeks.
Government, on the other hand, has also taken steps to ensure that the situation does not get out of hand.
It has therefore reached agreement with transporters of the finished petroleum products to import them and store at their fuel depots.
This is to ensure availability of stocks rather than waiting for the bulk oil distribution companies to place their request for import, which may end up not arriving on time.
The arrangement, according to sources, may help insulate the country from the current happening on the international market.
Presently, the price of diesel is selling higher than petrol. It is going for a little over ¢11.20 per liter at the pumps.