The Chamber of Bulk Oil Distributors (CBOD) has dismissed concerns of an impending fuel shortage, assuring the public that fuel supplies in Ghana are stable.

In an interview with Citi News, Dr. Patrick Ofori, CEO of the CBOD, emphasized that there are sufficient stocks of fuel in the country. He explained that many Bulk Oil Distribution Companies (BDCs) currently have fuel products at anchorage, with vessels unloading petrol.

“Over the next week or two, we expect an additional 100,000 metric tonnes of petrol to arrive,” Dr. Ofori stated, adding that there are no capacity or financial issues affecting supply. “There is no cause for alarm.”

This reassurance follows recent concerns from the Chamber of Oil Marketing Companies (OMCs) about a potential shortage, attributed to the suspension of the government’s gold-for-oil program and a shutdown at the Sentuo Oil refinery.

Dr. Riverson Oppong, CEO of the OMCs, had warned that the end of the gold-for-oil initiative, which had allowed Ghana to buy fuel using gold reserves, could lead to supply challenges.

Dr. Ofori also called on the government to continue the Bank of Ghana’s foreign exchange initiatives to stabilize the currency and maintain a steady fuel supply chain.

Source:TheDotNews