The Ghana Chamber of Bulk Oil Distributors (CBOD) has confirmed that its members have not raised fuel prices to finance new imports and are actively policing their conduct to safeguard consumers.
Chief Executive Officer Dr Patrick Kwaku Ofori told Joy News’ PM Express Business Edition that bulk oil distributors are maintaining ethical business standards while ensuring a steady supply of fuel.
Speaking on Thursday, Ofori rejected the notion of increasing prices on existing stocks to raise money for the next consignment, stating, “Had it not been that there is the most likely indication that we normally will hear from our other brothers who are also importers that, ' Oh, I need to increase the price so that I can import the next batch of Consignment, we have not done that.”
The CEO added that the chamber’s members have been transparent with regulators and are taking steps within the group to prevent consumers from being exploited. “We even self‑regulate ourselves and ensure that nobody takes advantage of the consuming public,” he said.
Ofori explained that selling products already imported and priced allows distributors to recover their money, which helps them pay trading partners and the banks financing their operations. He attributed continued product availability to members’ business practices and their relationship with oil marketing companies.
Assuring consumers that supplies would remain reliable through December, Ofori said cargo arrangements would help prevent the fuel queues experienced elsewhere. “And we can also assure the consuming public and our partners, the oil marketing companies, that supply will never be an issue,” he added.
He noted that almost all major distributors had continued to deliver during the crisis, competing fairly and prioritising serving Ghanaian consumers before considering exports to neighbouring countries.
