The Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST) has given the assurance that Ghana will not be facing an imminent fuel shortage.
This comes after some petroleum analysts, in recent times, predicted that due to the depreciation of the cedi and low oil production figures on the international market, Ghana risks facing a fuel shortage.
The BOST Managing Director speaking in an interview with Accra-based Joy News explained that the company has at least 13 days of fuel in its own reserve in addition to other private storage facilities.
“We have tank farms across the length and breadth of the country. When I came back to check, we have almost 40 days in private storage plus the 13 days in BOST; so, we are nowhere near running out,” he is quoted by myjoyonline.com.
Touching on calls for the scrapping of the nine pesewas BOST margin on petroleum products, Edwin Provencal said the move will rather have severe consequences on supply side of petroleum in the country.
“If you talk about taking away the BOST margin because the BOST margin comes at a cost; that cost is a social cost. Don’t just take away the BOST margin, also take away that social cost – then you are being fair and comparing apples to apples and oranges to oranges.
“But you don’t say take away the BOST margin but BOST will continue to manage the depots in Bolga, in Savelugu, in Buipe, in Akosombo… it’s not fair. Private money does not do social project but BOST is mandated to do these things and they should come at a social cost," he explained.
Mr. Provencal continued, “And that cost is the BOST margin; so, if you leave it to me, a private sector person, I am going to shut down all these other depots and also operate solely in Accra [and] Tema."
File photo a fuel pump