The National Petroleum Authority (NPA) has allayed concerns over a possible fuel shortage, assuring consumers that the country has adequate petroleum stocks despite ongoing tensions in the Middle East.

Director of Economic Regulation and Planning at the National Petroleum Authority (NPA), Abass Ibrahim Tasunti, in an interview with Citi Business News, downplayed concerns that the ongoing conflict in the Middle East could disrupt Ghana’s supply of petroleum products.

He stressed that the country currently has sufficient fuel stocks, with additional cargoes expected.

Abass Ibrahim Tasunti added that operations at the Sentuo Oil Refinery are also helping to complement imports and strengthen domestic supply.

“We shouldn’t be scared. We have over five weeks of diesel and almost seven weeks of petrol, with the cargoes at anchorage waiting also to discharge to add to what we have. In addition to that, we also have our import plan for the quarter already extending into April.

“So there are already confirmed vessels that are going to come to Ghana to discharge. We have the Sentuo Oil Refinery, which is also producing and putting onto the market. Since June last year, they have been consistently producing.

“So they have become a very key supply source to our markets. They are also still producing and adding to our stocks that we have in time. With regards to LPG, the Atuabo Gas processing plant is also producing and adding to our stock level. So we should not have any fear or concern that this war will prevent us from having products to run the economy,” he said.

Crude oil prices are trending upward following disruptions to oil and gas shipping through the Strait of Hormuz, a key global energy corridor, amid escalating regional tensions in the Middle East.

Prices are currently trading above $70 per barrel, a development that could have direct implications for fuel pricing in Ghana.

Already, some Oil Marketing Companies (OMCs) have begun implementing marginal upward price adjustments, in line with industry expectations for the current pricing window.