Ghana Has Over Two Months of Fuel Reserves Despite Global Oil Tensions – NPA Boss Assures

The Chief Executive of the National Petroleum Authority (NPA), Edudzi Tamakloe, has assured the general public that Ghana has enough fuel stock to meet local demand for over two months, despite growing global concerns over oil supply disruptions linked to the intensifying conflict between Israel and Iran.

In an interview with JoyNews, Mr. Tamakloe revealed that the country currently holds over 200 million litres of petrol and more than 150 million litres of diesel, which he described as sufficient to maintain fuel market stability in the coming weeks.

“I can assure the good people of Ghana that currently, as we speak, we have enough stock or reserve to last us beyond two months,” he stated.

“With all efforts, we are confident that we wouldn’t have any problem with supply disruptions at all.”

Global Uncertainty, Local Stability

The assurance comes at a time when escalating tensions in the Middle East threaten to disrupt oil exports passing through the Strait of Hormuz, a vital waterway that handles approximately 20% of global oil shipments. Any disruption in that region could significantly impact international oil prices and fuel supply chains.

However, Mr. Tamakloe emphasized that Ghana’s fuel stockpiling strategies and ongoing monitoring of global developments have put the country in a strong position to withstand external shocks.

Energy Sector Levy on Hold

Addressing public concerns about rising fuel prices, Mr. Tamakloe also spoke on the suspension of the Energy Sector Levy (Amendment) Act, which was initially scheduled to take effect from June 16, 2025. The levy would have added GHS1 per litre on petrol and diesel.

The Ghana Revenue Authority (GRA) confirmed the postponement earlier this week, citing ongoing assessments.

“The government is always monitoring global events and will respond in the next foreseeable days,” Mr. Tamakloe said.

“There will be enough consultation with the Chamber of Oil Marketing Companies and other stakeholders before the rollout.”

The move is seen as an attempt to protect consumers already burdened by inflation and high living costs.

Focus on Market Stability and Consumer Protection

Mr. Tamakloe reiterated the government’s commitment to maintaining stability in the energy market. He assured that any future implementation of the levy would be guided by data analysis, stakeholder engagement, and a focus on minimizing consumer impact.

“Our goal is to keep the market stable and ensure that Ghanaians have access to affordable and reliable fuel,” he added.

As geopolitical uncertainties continue to unsettle global markets, Ghana’s energy authorities appear determined to uphold domestic fuel security through strategic planning, measured policy actions, and transparent communication.