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NPA quells fears of fuel shortage

Mohammed Abdul-Kudus, the National Petroleum Authority’s (NPA) communications manager, has shot off rumors that there will soon be a fuel shortage in the nation.

He asserts that the nation has adequate petroleum products in reserve to meet customer demand up until the arrival of the subsequent gasoline delivery.

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His comments come in response to worries from civil society organizations about an impending fuel crisis if the cedi continues to plunge against the dollar amid a dearth of dollars in the nation.

Mohammed Abdul-Kudus said, “For the time being, I haven’t had any information made available to me about any potential scarcity of petroleum products.

“Most of what I know and the visibility I have has to do with the amount of petroleum goods that are currently accessible and how long they will actually be available to meet the demand that our nation will experience.

“And from what I’ve observed as of this morning, there hasn’t been any indication that a scarcity will occur in the near future. I know that we have enough fuel in stock to last us till the next line of laycans is permitted to distribute fuel.

The Institute for Energy Security (IES) has been alerting the public about an impending nationwide shortage of petroleum products.

According to the energy think tank, the free fall of the cedi, which is causing a scarcity of dollars and the erosion of some working capital of the Bulk Oil Distribution Companies is what will trigger the shortage. Executive Director of IES, Nana Amoasi VII told Joy Business on October 18, 2022, that Ghanaians should be worried about this development.

“There is something to be much worried about and that’s the likelihood of the shortage of the commodity on the market on the back of a reported shortage of dollars for the Bulk Oil Distribution Companies, the importers and the erosion of working capital of some of these importers. The price of crude oil remains high and the cedi value continues to decline”.

He cited reports of pockets of fuel shortages around the nation in the following month as evidence. “We initially highlighted these concerns in March of this year,” he said.

In addition, Nana Amoasi VII cautioned that any gasoline shortage issue would be widespread if the authorities did not have a good plan in place.

“This time, any shortage issue could become widespread if we don’t prepare for it. It’s a bigger deal.

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