The Chamber of Petroleum Consumers-Ghana (COPEC) has reassured the public that there is no actual fuel shortage in the country.
The perceived scarcity is largely due to delays in supply, which have been caused by ongoing upgrades at the BOST depots in Kumasi and Accra.
In a statement released on Wednesday, November 13, and signed by Executive Secretary Duncan Amoah, COPEC explained that the current situation is being worsened by the reluctance of some private oil traders to release sufficient fuel supplies onto the market.
“Private oil traders, who have raised concerns over outstanding payments owed to them, have been hesitant to supply adequate products to the market. While some private Bulk Import Distribution Companies (BIDECS) continue to bring in fuel, the supply is uneven, with some pumps having fuel while others remain empty,” the statement noted.
Additionally, COPEC highlighted challenges related to financing and the accumulation of debts from some major suppliers.
The uncertainty surrounding the repayment of these debts has led some suppliers to reduce the amount of fuel they are pumping into the system, which has contributed to the current shortages and supply issues.
However, COPEC reassured stakeholders that efforts are underway to resolve the situation.
Some private BIDECS are actively unloading cargoes, which should help alleviate supply concerns by the weekend. Furthermore, BOST is expected to land two cargoes before the end of November.
COPEC is urging consumers to remain calm and refrain from panic buying, as measures are in place to stabilize the fuel supply system in the coming days.
