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Fuel Shortage Fears Dispelled: Ghana Chamber of Bulk Oil Distributors Reassures Public

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Ghanaians can breathe a sigh of relief as the Ghana Chamber of Bulk Oil Distributors (CBOD) has refuted reports of an impending critical fuel shortage. According to Dr. Patrick Ofori, CEO of the Chamber, there is sufficient fuel at the port, with supplies expected to increase as stakeholders work to prevent any potential crisis.

Dr. Ofori attributed the previous government’s Gold-for-Oil policy to devaluing imports in favor of BOST. He also urged the current Mahama government to maintain the Bank of Ghana’s forex initiative to stabilize the currency.

In related news, the Chamber of Petroleum Consumers forecasts a 3% decline in petrol prices and a 1% decline in diesel prices at the pumps, starting from the second pricing window today, January 16. However, this projection hinges on the performance of the cedi. Executive Secretary Duncan Amoah stated that Oil Marketing Companies (OMCs) will closely monitor the cedi’s performance to determine their pricing strategy.

Ruth Abla ADJORLOLO

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