Saturday, 14 March

NPA assures public of adequate fuel stocks and stable market conditions

News
Fuel pump

The National Petroleum Authority (NPA) has assured the public that Ghana has sufficient fuel stocks and that the national fuel supply situation remains stable.

In a statement issued on Wednesday, the authority said it had taken note of recent reports and speculation regarding the potential impact of developments in the global energy market on fuel supply and pricing in Ghana.

According to the NPA, a comprehensive review of national petroleum stock levels and supply arrangements, conducted in collaboration with the Ministry of Energy and Green Transition and other industry stakeholders, confirmed that the country currently has adequate fuel supplies to meet both current and projected demand.

The authority stated that sufficient quantities of petroleum products, including Petrol (PMS), Diesel (AGO), Aviation Turbine Kerosene (ATK), and Liquefied Petroleum Gas (LPG), are available nationwide.

The NPA added that government continues to implement proactive measures to safeguard supply reliability and maintain stability in the petroleum market. These measures include continuous monitoring of national stock levels and strategic coordination with International Oil Trading Companies (IOTCs), Bulk Import, Distribution and Export Companies (BIDECs), BOST Energies, and local refineries to ensure timely imports and consistent product availability.

The authority also indicated that it is strengthening strategic supply planning and price monitoring mechanisms to mitigate potential disruptions or price volatility arising from developments in the global petroleum market.

The NPA, therefore, urged the public not to panic or engage in panic buying, stressing that the petroleum supply chain continues to function normally and that adequate stocks are available across the country.

The statement reaffirmed the Authority’s commitment to ensuring reliable fuel supply, transparent market operations, and the protection of consumer interests.

Source: classfmonline.com