The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamaklo, has signalled that government may be forced to step in if global crude oil prices rise sharply, drawing a clear line at $120 per barrel.

Speaking on PM Express on Joy News, he said authorities are closely monitoring market developments but stopped short of giving firm assurances on price stability.

“What we have is this window to study how the market will react generally, which will inform some of the decisions. If this becomes more extended, that one, I know that there will be a bigger conversation, just that I do not have the authority to make some disclosures now.”

Pressed on the specific price point that could trigger intervention, he pointed to a clear threshold.

“Anything beyond maybe $120 per barrel for the world price of crude, then the conversations can be firmed up.”

His comments come amid rising concerns about fuel price volatility and its impact on consumers.

While acknowledging the uncertainty, Mr Tamaklo indicated that any major response would require high-level engagement beyond the regulator.

“Some of these decisions require broader conversation, possibly ministerial or Presidential level.”

He also revealed that President John Dramani Mahama is closely monitoring the situation and is concerned about the potential impact on Ghanaians.

“In the past few days, the President had been generally concerned about prices. He has been greatly concerned, as I can tell you.”

Mr Tamaklo suggested that government could explore measures within existing frameworks to cushion consumers if the situation worsens.

“And so if there is anything within the rules books on how to mitigate the impact for the average Ghanaian, the President will not hesitate at all. I mean, his record is there.”

His remarks underscore growing pressure on authorities to respond to global oil market shocks, even as they weigh the limits of regulatory intervention.

For now, the NPA appears to be watching the market closely, with the $ 120-per-barrel mark emerging as a critical trigger point for possible action.