The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has called on the government to establish a dedicated strategic fuel reserve fund to protect Ghana’s economy from global petroleum supply disruptions.
Speaking on The Big Issue on Saturday, March 7, Mr. Amoah noted that despite the numerous taxes levied on fuel products, Ghana currently lacks a structured financial mechanism to build emergency petroleum stocks.
He proposed adding a small reserve margin to the petroleum pricing structure, which could generate substantial funds to enable the Bulk Oil Storage and Transportation Company Limited (BOST) to maintain strategic reserves.
“Even a modest 10-pesewa contribution per litre could raise GH¢40–50 million monthly for emergency fuel storage,” he explained. “This would provide a safety net for industries, households, and the broader economy during supply disruptions or global price shocks.”
His call comes amid rising tensions in the Middle East, which have disrupted global fuel markets and heightened concerns over price volatility in Ghana.
