The National Petroleum Authority (NPA) says Ghana continues to maintain healthy petroleum stocks through continuous imports and local refining, assuring consumers that fuel availability remains its highest priority despite uncertainty in the global oil market.

The assurance comes as government rolls out a ¢2 per litre cushioning on diesel after another round of increases in petroleum prices.

The intervention aims to ease the burden on consumers while concerns persist about potential supply disruptions stemming from tensions in the Middle East.

Speaking on JoyNews’ PM Express Business Edition on Thursday, Director of Economic Regulation and Planning at the NPA, Abass Tasunti, said the regulator’s primary responsibility is to ensure that fuel remains available at all times.

“…our topmost priority as a regulator is to ensure availability of petroleum products at all times, because trust me, if the fuel was not available in the first place, I’m not sure people would be more concerned about the price you are paying at the pump.

"Your interest would be to ensure that you get the product, and you can imagine the chaos and the impact non-availability of petroleum products will have on the economy that we have today.”

He said the NPA constantly plans its supply chain to balance domestic production with imports to prevent shortages.

“And so, our priority has always been to ensure that petroleum products are always available, so we always keep. That’s why we plan, and so we always have a plan that ensures that we balance domestic production with imports to ensure there’s adequate stock.”

Mr Tasunti disclosed that Ghana currently has more than five weeks’ worth of petrol and diesel stocks.

“In terms of actual stocks, we have a little over five weeks' average for both petrol and diesel today.”

He, however, explained that the five-week figure does not mean the country is simply drawing down existing stocks without replenishment.

“Whenever we say we have a little over five weeks or a little over four weeks, as an example, it doesn’t mean that we are consuming that and nothing else is adding up.”

According to him, fuel imports continue almost without interruption, ensuring supplies are constantly replenished.

“As we speak right now, the vessel is discharging products. So every… we never actually have free time at the facilities that discharge the petroleum products, so almost every time products have been discharged to add up to what we have, and that’s why we have what we call the Line Camp Program to plan our imports.”

He added that local refining is also contributing to Ghana’s fuel security.

“As Dr Kwaku Ofori earlier said, we also have the refineries… refining consistently and has not stopped production since last July.”