The National Petroleum Authority (NPA) announced that Ghana now holds a minimum of six weeks of fuel stock, a safeguard against private companies gaining leverage over the country’s petroleum supplies. Chief Executive Godwin Edudzi Tamakloe told Joy News’ PM Express Business Edition that the country’s reserves and the volume of vessels arriving from abroad provide a buffer for the domestic market.
In response to rising international crude and refined petroleum prices, the NPA has lifted the price floor for its latest pricing window. Petrol now has a minimum price of GH¢16 per litre, while diesel sits at GH¢16.77 per litre. The agency also noted that BOST Energies has reduced export volumes to Burkina Faso and Mali, though it says there is no imminent fuel shortage in Ghana.
Mr Tamakloe said the immediate concern is price pressure rather than supply disruption. He highlighted that exporting countries are looking to bring additional suppliers into the market, citing the involvement of Dangote as an example.
Addressing worries that private sector dominance could leave the government vulnerable, the NPA chief explained that Act 691, the enabling law for the downstream sector, was designed to encourage private participation while maintaining safeguards. He acknowledged the need for buffers to prevent a repeat of the 2014‑2015 crisis and stressed that the President is concerned about any scenario where the private sector could effectively hold the country to ransom.
The NPA’s measures aim to balance market liberalisation with national security, ensuring that Ghana’s fuel supply remains stable even as global prices fluctuate.
