The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, says the Authority is prepared to address turbulence in Ghana’s downstream petroleum sector as international market pressures continue to drive up fuel prices.
His comments come at a time when Ghana’s fuel market is facing renewed pressure from higher international prices for crude and refined petroleum products.
The NPA increased the price floor for petrol to GH¢16 per litre and diesel to GH¢16.77 per litre from September 16.
Some Oil Marketing Companies have since raised pump prices, with Star Oil pricing petrol at GH¢16.77 and diesel at GH¢17.77 per litre.
Speaking on Joy News’ PM Express Business Edition on Thursday, Mr Tamakloe said his preparation for the job has always included the possibility of major disruptions in the petroleum market.
He said Ghana is largely dependent on imports for refined petroleum products, leaving the sector exposed to external shocks.
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