By Adnan Adams Mohammed
The National Petroleum Authority (NPA) has moved to reassure the Ghanaian public of a stable fuel supply, downplaying fears of a potential shortage despite escalating geopolitical tensions in the Middle East and increased volatility in global oil markets.
Speaking on JoyNews’ The Probe on Sunday, March 1, 2026, the Director of Economic Regulation and Planning at the NPA, Abass Ibrahim Tasunti, confirmed that the country holds a robust buffer of petroleum products, capable of cushioning consumers for several weeks.
National Stock Levels: A Seven-Week Safety Net
According to the latest monitoring data from the NPA, Ghana’s current fuel reserves are at a comfortable level:
● Petrol: Approximately 6.8 weeks of supply.
● Diesel: Over 5.3 weeks of supply.
Mr. Tasunti emphasized that these reserves are not a panicked reaction to recent regional conflicts including the blockade of the Strait of Hormuz but are the result of the NPA’s routine mandate to ensure energy security.
“We have a plan where almost every day, petroleum products are being discharged,” Mr. Tasunti explained. He further noted that the Sentuo Oil Refinery, which has been operational since June 2025, and the Atuabo Gas Processing Plant are consistently adding to domestic stocks, reducing total reliance on international imports.
Contingency Plans and the “Mindset Shift”
The NPA’s assurance comes as the government initiates a broader review of its economic contingency plans. A key pillar of this strategy involves a proposed revision to the Ghana Petroleum Funds (GPF) investment policy.
Under the “Resetting for Growth” agenda, the administration is seeking to move away from “passive savings” in offshore accounts toward “productive investment” in domestic energy infrastructure. This shift aims to create a more resilient energy sector that can better withstand price shocks and supply disruptions.
Price vs. Availability: The Reality for Consumers
While the NPA has guaranteed availability, it warned that as a net importer, Ghana remains a “price taker” on the global stage.
Global crude prices recently surged past $91 per barrel, and the NPA has already adjusted price floors for the first window of March 2026. Industry experts, including Duncan Amoah of the Chamber of Petroleum Consumers (COPEC), have cautioned that while the pumps may not run dry, consumers should prepare for marginal price increases as private traders factor in the rising cost of future cargoes.
Strategic Resilience
To further stabilize the market, the NPA is stepping up its monitoring of Oil Marketing Companies (OMCs) to ensure that pump prices reflect approved regulatory guidelines rather than speculative hikes.
As of early March, several vessels carrying fresh petrol and diesel cargoes were already at the Tema anchorage awaiting discharge, with more imports scheduled through April. The government maintains that these proactive measures will ensure the “wheels of the economy” continue to turn, even as global uncertainties persist.
