Ghana’s petroleum stock cover has increased to at least seven weeks, the Chief Executive of the National Petroleum Authority, Godwin Edudzi Tamakloe, has disclosed, while cautioning that global fuel prices remain uncertain despite easing geopolitical tensions.

Speaking in a radio interview on Citi FM on Wednesday, April 8, 2026, Mr Tamakloe said the updated stock level improves on the six weeks earlier cited by John Dramani Mahama at the Kwahu Business Forum. He attributed the increase to ongoing efforts to replenish national reserves.

“We have increased it to seven weeks,” he said, adding that vessels have been scheduled up to April 19, 2026, following a meeting of the Laycan Advisory Committee last Thursday.

His remarks come ahead of an emergency cabinet meeting scheduled for Thursday, April 9, 2026, convened by President Mahama to consider possible relief measures for consumers grappling with rising fuel prices. Recent adjustments saw petrol prices rise by about 15 per cent to GH¢13.30 per litre, while diesel increased by about 19 per cent to GH¢17.10 per litre for the April 1 to 15 pricing window, amid supply disruptions linked to tensions around the Strait of Hormuz.

Mr Tamakloe indicated that he had not been invited to the cabinet meeting but acknowledged that the executive retains the discretion to call on any official when necessary. He noted that engagements had already taken place between sector ministers and their respective agencies but declined to disclose details.

“I strongly believe cabinet will announce their decision to the good people of this country. That I am certain about,” he said.

On the outlook for the next pricing window, effective April 16, Mr Tamakloe said it was too early to predict whether prices would rise, stabilise or fall, citing uncertainty following a ceasefire between the United States and Iran.

He explained that a reopening of the Strait of Hormuz could result in a surge of petroleum supplies onto the global market, potentially driving prices down sharply. However, he warned that such a development could also expose traders who purchased fuel at elevated prices during the conflict to significant losses.

“There is a high possibility of a glut,” he said. “Prices may fall so low that if you had bet on a higher price, you would stand the risk of losing so much.”

Mr Tamakloe added that diesel prices could drop to pre-conflict levels of about $695 per metric tonne if supply conditions improve rapidly, although he stressed that the outlook remains uncertain due to the terms surrounding the ceasefire.

Projections by the Chamber of Oil Marketing Companies had pointed to further increases in the second pricing window, with petrol expected to rise by about 8 per cent and diesel by about 10 per cent. Mr Tamakloe, however, said final outcomes would depend on developments in the global market before April 16.

He maintained that Ghana’s fuel supply has remained stable despite the global disruptions, contrasting the situation with developments in Kenya, where petroleum sector officials have faced scrutiny over alleged mismanagement of fuel stock data.

“Thankfully, with the support from my sector minister and my directors at the authority, we have kept supply reliability under firm control,” he said.

Mr Tamakloe also attributed some stability in local fuel prices to the relative strength of the cedi, which has helped cushion the impact of global price fluctuations.

He noted that some countries, including the Philippines, have declared energy emergencies, with reports of fuel rationing in parts of Asia due to supply chain disruptions linked to the Strait of Hormuz.

“You want to treat it with a lot of optimism, but with caution,” he said.

Mr Tamakloe indicated that cabinet’s decision on potential relief measures is expected by Friday, April 10, 2026.