The Institute for Energy Security (IES) is warning of a shortage of petroleum products across the country.
According to the energy think tank, the free fall of the cedi, which is causing a scarcity of dollars and the erosion of some working capital of the Bulk Oil Distribution Companies is what will trigger the shortage.
Executive Director of IES, Nana Amoasi VII told Joy Business on October 18, 2022, that Ghanaians should be worried about this development.
“There is something to be much worried about and that's the likelihood of the shortage of the commodity on the market on the back of a reported shortage of dollars for the Bulk Oil Distribution Companies, the importers and the erosion of working capital of some of these importers. The price of crude oil remains high and the cedi value continues to decline”.
“We first raised these concerns in March this year and in the following month there were reports of the pocket of shortages of fuel across the country”, he explained.

Furthermore, Nana Amoasi VII warned that if the authorities fail to plan well, any incident of fuel shortage will be widespread.
“This time around, any incident of shortage may be widespread if we fail to plan against it. It is more serious”.
He added that the BDCs and importers struggle to bring refined crude oil.
Fuel prices have been going up since Monday, October 17, 2022.
Petrol per litre is going for ¢13.10, from the previous price of ¢11.10, representing about a 16% increase.
On the other hand, diesel per litre has shot up to about ¢15.99, from the previous price of ¢13.90. This is about a 12% surge.
Latest Stories
-
Let’s all rise and rebuild for victory 2028 – Bawumia to NPP faithful
9 minutes -
Good news for Ghana as S&P upgrades credit rating, citing strong economic progress under Finance Minister
9 minutes -
Our comeback requires having open arms to all – Bawumia to NPP
13 minutes -
Bawumia: ‘My early concession was to save Ghana from unnecessary tension’
17 minutes -
Government’s gold purchasing from artisanal miners to have negative effects on agriculture – S&P
28 minutes -
S&P upgrades Ghana’s credit rating to CCC+; outlook stable
51 minutes -
Missing AFCON fuels Black Stars’ World Cup ambition – Jerome Opoku
8 hours -
Every setback is an opportunity to grow – Kudus hopeful of a better season
8 hours -
Ebony FC secure promotion to Division One after 2-1 victory over Benab FC
9 hours -
AFCON U20: Ghana to face hosts Egypt in Monday’s quarter-final
9 hours -
Ghana’s relay team eyes World Athletics Championships spot in Guangzhou
9 hours -
Ebi Bright confirmed as first female Mayor of Tema
10 hours -
Commission on Small Arms pushes for new firearms law after 50-year delay
10 hours -
Scores injured in multi-vehicle crash at Krofrom in Kumasi
10 hours -
Another attempt made to cart away excavators confiscated by the Forestry Commission
10 hours