The Chamber of Bulk Oil Distributors (CBOD) has assured consumers and oil marketing companies that Ghana has secured sufficient fuel cargoes to meet domestic demand through December, dismissing concerns about possible supply disruptions.
Chief Executive Officer of CBOD, Dr Ofori, said arrangements had been concluded to ensure that all expected cargoes arrived safely and on schedule, preventing shortages and queues at fuel stations.
Speaking on Joy News’ PM Express Business Edition on Thursday, he said the country was adequately covered against supply challenges being experienced in other markets.
“We can confidently say that by the end, up till now, till December, we’re going to have all the cargo locked in,” he said.
Dr Ofori also praised bulk oil distributors for prioritising the domestic market, noting that major industry players had consistently supplied Ghanaian consumers before considering exports to neighbouring countries.
“Almost all the big guys who were leading on the various leagues that were published have consistently served, and competed fairly and served the Ghanaian public before even thinking about exports into our neighbouring countries,” he stated.
He attributed the stability in fuel availability partly to responsible business practices among CBOD members, saying the chamber had adopted internal monitoring measures to prevent exploitation of consumers.
“We even self-regulate ourselves and ensure that nobody takes advantage of the consuming public,” he added.
Dr Ofori acknowledged that disagreements could occur within the industry but stressed the importance of allowing distributors to sell products they had already imported and priced.
He explained that recovering the cost of imported products was necessary for distributors to meet their financial obligations to international trading partners and banks that financed their operations.
He said transparency with regulators, internal oversight and cooperation among distributors, consumers and oil marketing companies were critical to maintaining stability in the domestic fuel market.
