The Bulk Oil Storage and Transportation Energies (BOSTEnergies) is projected to lose nearly GHS40 million in April following the government’s suspension of its margin on diesel, Deputy Managing Director, Nat Salifu Acheampong has disclosed.

Speaking to Accra-based Joy FM on Monday, April 20, Mr. Acheampong explained that while the margin on petrol remains in place, the removal of the levy on diesel poses significant financial challenges for the state-owned company.

“We still have the margin on petrol. It is only on diesel that we do not have the margin,” he said, adding that authorities have indicated the suspension will be temporary.

He appealed to Parliament to support efforts to restore the margin once conditions stabilise.

Mr. Acheampong warned that the suspension could jeopardise critical infrastructure projects, particularly plans to upgrade the Accra-Akosombo fuel pipeline.

According to him, BOSTEnergies intends to replace the existing six-inch pipeline with a 12-inch line to improve capacity and efficiency in fuel distribution nationwide.

“All these facilities you have seen, we need to replace the pipeline from Accra to Akosombo… Once we replace the existing pipeline with these 12-inch pipelines, we get resources from the BOST margin to bring in all this pipeline,” he explained.

He cautioned that a prolonged loss of the margin would hinder the company’s ability to execute such projects, which are vital for national energy security.

Detailing the financial implications, Mr. Acheampong said the company stands to lose about GHS40 million within a single month due to the suspension.

“GHS40 million off our books is serious business. If this continues over time, it means our operations will be adversely affected,” he noted.

He emphasised that funds generated from the margin are used to maintain strategic fuel reserves and invest in infrastructure critical to the country’s petroleum sector.

Mr. Acheampong appealed to policymakers to reinstate the margin after the current intervention period, stressing that the levy supports BOST’s mandate to ensure stable fuel supply and infrastructure development.

The BOST margin is a charge on petroleum products designed to fund the company’s operations.

Government suspended the levy on diesel earlier this month as part of measures to cushion consumers against rising fuel prices.