The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Dr Patrick Kwaku Ofori, has assured Ghanaians that the country will not experience fuel shortages or queues at filling stations through December. According to Dr. Ofori, bulk oil distributors have secured enough fuel cargoes to meet the needs of consumers and oil marketing companies during the period. This assurance comes as a relief to the public, especially with the festive season approaching.
Dr. Ofori stated that the supply arrangements were in place to ensure that fuel remained available on the local market. He emphasized that the country had secured the necessary fuel cargoes to prevent shortages and ensure smooth deliveries through December. With these arrangements in place, Ghanaians can expect a steady supply of fuel throughout the month. The CBOD CEO's statement is a welcome news to the public, as fuel shortages can have a significant impact on the economy and daily life.
The CBOD CEO attributed the steady supply of fuel to ethical business practices among members of the chamber. He noted that CBOD members had maintained transparency with the regulator and put internal measures in place to prevent businesses from taking advantage of consumers. This commitment to transparency and fairness has helped maintain fuel availability in the country. Dr. Ofori also mentioned that the chamber's members self-regulate to ensure that nobody takes advantage of the consuming public.
Dr. Ofori explained that major distributors had consistently served Ghanaian consumers before considering exports to neighbouring countries. He stated that almost all the big distributors had prioritized the local market, ensuring that Ghanaians had access to fuel. This commitment to the local market has helped maintain fuel availability, even in the face of challenges in the industry. The CBOD CEO's statement suggests that the industry is working to prioritize the needs of the local market.
Despite what Dr. Ofori described as a crisis in the industry, bulk oil distributors had continued to supply the domestic market. He noted that disagreements could sometimes arise within the industry, particularly with regards to pricing and financial obligations. However, Dr. Ofori maintained that the conduct of CBOD members, together with the awareness of consumers and oil marketing companies, would help sustain fuel availability on the Ghanaian market through December.
Dr. Ofori explained that distributors needed to sell products they had already imported and priced to recover their investments and meet financial obligations to trading partners and banks. He noted that these funds were necessary to sustain operations and ensure continued fuel supply. The CBOD CEO's statement highlights the complexities of the fuel supply chain and the need for distributors to balance their financial obligations with the needs of the local market.
The Ghana Broadcasting Corporation reported that Dr. Ofori's assurance was a result of the efforts of bulk oil distributors to prioritize the local market. With the necessary fuel cargoes secured, Ghanaians can expect a steady supply of fuel throughout December. The CBOD CEO's statement is a welcome relief to the public, and it is hoped that the industry will continue to prioritize the needs of the local market.
Key points
- The Ghana Chamber of Bulk Oil Distributors has secured enough fuel cargoes to meet the needs of consumers and oil marketing companies through December.
- The steady supply of fuel is attributed to ethical business practices among members of the chamber.
- The industry has prioritized the local market, with major distributors consistently serving Ghanaian consumers before considering exports.
