The Chamber of Petroleum Consumers-Ghana (COPEC) has assured the public that there is no actual fuel shortage in the country, explaining that the current perception of scarcity is due to supply delays caused by ongoing upgrades at BOST depots in Kumasi, and Accra.
In a statement signed by Executive Secretary Duncan Amoah on Wednesday, November 13, COPEC clarified that the apparent shortage is also being exacerbated by some private oil traders’ reluctance to release adequate fuel supplies onto the market.
“It is also established that other private Oil traders who over the period, complain of monies owed them and hence their refusal to put enough products onto the market is also to blame though some private Bulk Import Distribution Companies continue to land products even as of today, thereby creating a mixed situation of availability at some pumps whiles others do not have at all”
“There also seems to be some challenge of financing and debts accrued over a period from some of the main suppliers arising from some uncertainties in the ability of the market to pay them such debts owed from previous supplies and hence the difficult decision to discontinue pumping more products into the system any further, which is partly responsible for the current shortages and supply suppression”
The chamber assured stakeholders that there is currently a discharge of some cargoes that some private BIDECS intend to put on the market to obtain some level of relief in the system by the weekend.
In addition, BOST is also on schedule to land two cargoes before November ends.
The Chamber is urging consumers to stay calm and desist from panic buying due to the seeming shortage as efforts are in place to stabilise the system by the weekend.
