Technical Advisor to the Tema Oil Refinery (TOR), Nana Amuasi VII, has indicated that the refinery’s full-scale operations are expected to enhance fuel supply security and mitigate price pressures in the local market.

This comes in the wake of a surge in global oil prices caused by the ongoing conflict in the Middle East.

Speaking on JoyFM’s Midday News on Tuesday, March 10, he noted that Ghana is currently experiencing shifts in the global fuel market that are impacting domestic prices.

“When the TOR refinery begins full operation, it means there will be more supply stability and security. In a market where demand exceeds supply, prices naturally tend to rise.

TOR refinery will introduce 45,000 barrels per stream day into the market, which will ensure sufficient fuel availability and help ease the burden on prices,” he said.

On the question of how quickly consumers might feel relief at the pump, Nana Amuasi VII responded, “Once TOR receives its first batch of crude, refined products could hit the market within days.

"Confidently, within the next week, we may start to see the refinery’s contribution reflected in the Ghanaian fuel market.”

This development is expected to provide both supply reliability and some easing of fuel costs for Ghanaian consumers in the coming weeks, he added.