By Adnan Adams Mohammed
The National Petroleum Authority (NPA) has expressed confidence in Ghana’s petroleum supply stability heading into the final quarter of the year, relying on steady output from local refining while actively working to cushion transport fare pressures on consumers.
The regulator confirmed that it expects the Sentuo Oil Refinery to maintain consistent domestic production through December 2026, creating an essential supply buffer alongside imported petroleum products.
“We are confident that, from now until December, we will have consistent production from Sentuo,” stated NPA Chief Executive Officer Godwin Kudzo Tameklo in an interview with JoyNews.
Industry stakeholders agree that boosting local refining capacity plays a strategic role in strengthening energy security. Dr. Patrick Kwaku Ofori, Chief Executive of the Chamber of Bulk Oil Distributors (CBOD), noted that having both Sentuo and the Tema Oil Refinery (TOR) operational helps lessen supply vulnerabilities.
“Having the two in-country at least reduces the burden of product supply insecurity,” Dr. Ofori said, adding that combined local production could meet 25% to 30% of national consumption. However, Dr. Ofori cautioned motorists against expecting an immediate drop in pump prices. “Local refineries still buy crude oil at prices linked to international market benchmarks, meaning the cost of producing fuel locally can still be affected by global oil prices,” he explained.
The assurance on fuel availability comes amidst heightened debate surrounding public transport fares, following recent upward adjustments in fuel price floors to GH¢16 per litre for petrol and GH¢16.77 per litre for diesel. The Ghana Private Road Transport Union (GPRTU) subsequently proposed a 30% fare increase, citing elevated operational costs.
Addressing the cost structure during an appearance on Joy News’ PM Express Business Edition, Mr. Tameklo clarified that non-fuel operational expenses for drivers have remained relatively predictable.
“First of all, for the transport business, there are three essential things that you always want to look at: the cost of maintaining the freight, the cost of spare parts,” Mr. Tameklo explained. “How much they pay their drivers and mates is always known, and often for a whole year there are no serious increases. Insurance cost has largely remained stable.”
Mr. Tameklo highlighted that foreign exchange stability has also helped absorb potential price hikes on imported spare parts. He noted that while fuel price changes remain the main driver of current cost pressures, ongoing dialogue between the government and transport operators aims to share the burden rather than transfer full price increases onto commuters.
“So we have jaw-jawed with the various transport owners that there is a time for us to also bear the share,” Mr. Tameklo said. “And that is why you notice that the attempt to increase the price or increase fares has basically been put on ice.”
Although official fare hikes remain suspended, the NPA chief acknowledged that some operators have unilaterally increased prices, reassuring the public that engagements continue to maintain stability across the transport and energy sectors.
