Ghana is not facing an immediate fuel supply shortage despite rising concerns over tensions in the Middle East, the Technical Advisor at the Ministry of Energy and Green Transition, Dr. Yussif Sulemana, has assured.
His comments come amid fears of a potential global oil crisis triggered by the ongoing conflict involving the United States, Israel, and Iran, which analysts warn could disrupt major oil supply routes. Global oil markets have already experienced volatility, with crude prices reportedly rising above $100 per barrel for the first time since 2022.
Speaking on Citi FM on Monday, March 9, Dr. Sulemana explained that Ghana currently has sufficient fuel stocks to meet short-term demand.
“We are not immediately threatened by the supply or the availability of the product. What we are immediately threatened with is the price. Are we able to maintain the price? That is a big question that we are looking at,” he stated.
He added that while global supply disruptions could eventually affect markets, Ghana’s immediate priority is maintaining adequate fuel reserves.
Tank Farm Operators are working closely with the National Petroleum Authority (NPA) to ensure stable supply levels.
“We have only to ensure that we maintain the availability of supply. After we made the announcement, we have been working closely with the NPA, and they have given us the assurance that we can go beyond the five weeks,” Dr. Sulemana said.
He further disclosed that additional fuel shipments have already arrived at the country’s ports and will soon be discharged, potentially extending Ghana’s fuel reserves significantly.
“We have some ships that have been docked at the harbour, ready to discharge. So, if these ships are discharged, we can go up to 10 weeks,” he noted.
The ministry emphasised that while price fluctuations remain a concern, Ghana’s fuel supply situation remains stable and capable of meeting national demand in the short term.
READ ALSO:
Ghana records 1,038 Mpox cases, eight deaths since outbreak began – Health Minister
GHA announces temporary traffic management on N4 for interchange expansion works
