US-Iran hostilities: NPA assures of over five weeks fuel stock

The National Petroleum Authority (NPA) says Ghana has enough fuel reserves to last more than five weeks despite rising tensions in the Middle East.

The assurance was given by the Director of Economic Regulation and Planning at the NPA, Abass Ibrahim Tasunti, during an interview on JoyNews on Sunday, March 1.

Mr Tasunti disclosed that the country’s current petroleum stock levels remain stable and sufficient to meet national demand.

“As of last Friday, we have diesel stocks to last us over five weeks. Roughly, it will last us up to 5.3 weeks. And then for petrol, we have almost 6.8 weeks to last,” he stated.

He explained that these reserves are part of routine planning by the Authority and not an emergency response to geopolitical developments. According to him, maintaining adequate petroleum stocks is a core responsibility of the NPA to prevent supply disruptions.

“Even without this war, we always ensure that we have a plan to make petroleum products available for consumers in the country. So this is not something that is being done because of the war, but it is something we do regularly. It is one of NPA’s major mandates,” he said.

Mr Tasunti added that the Authority closely supervises the discharge of imported petroleum products on a daily basis, while local production continues to support supply.

He noted that the Sentuo oil refinery has been operating consistently since June 2025, contributing refined products to the domestic market. The Atuabo Gas Processing Plant is also producing and distributing liquefied petroleum gas across the country.

He further revealed that several vessels are currently at the Tema anchorage awaiting clearance to offload products, including two diesel cargoes and two petrol consignments, with additional shipments already scheduled.

Although the NPA expressed confidence in supply stability, it acknowledged that Ghana’s dependence on imports makes it vulnerable to global market shocks.

Meanwhile, the Chamber of Petroleum Consumers (COPEC) has cautioned that escalating hostilities in the Middle East may influence fuel prices in the coming weeks. Executive Secretary Duncan Amoah said traders are already pricing in potential geopolitical risks when securing future cargoes.

“If I was a trader and I woke up tomorrow to have to put stock on the market, I would definitely bear in mind the fact that these hostilities or tensions prevailing within the Middle East could affect the next cargo consignment that I get down here,” he remarked.

His warning follows a spike in global crude oil prices to above $91 per barrel amid disruptions linked to tensions around the Strait of Hormuz, a critical oil transit corridor.