The Bulk Oil Storage and Transportation (BOST) Company is fighting off claims suggesting there is an imminent fuel shortage in Ghana.
Some analysts have, in the last few weeks, predicted such a situation citing the depreciation of the cedi as a key factor.
But the Managing Director of BOST, Edwin Provencal, says that the company has at least 13 days of fuel in its own reserve in addition to other private storage facilities.
He stressed that the claim “is not accurate at all.”
“We have tank farms across the length and breadth of the country. When I came back to check, we have almost 40 days in private storage plus the 13 days in BOST; so, we are nowhere near running out.”
There have been calls for the BOST margin, which adds up to the price of fuel, to be scrapped.
But Mr Provencal believes this would have dire consequences for fuel supply beyond the Greater Accra region.
“If you talk about taking away the BOST margin because the BOST margin comes at a cost; that cost is a social cost. Don’t just take away the BOST margin, also take away that social cost – then you are being fair and comparing apples to apples and oranges to oranges.
“But you don’t say take away the BOST margin but BOST will continue to manage the depots in Bolga, in Savelugu, in Buipe, in Akosombo… it’s not fair. Private money does not do social project but BOST is mandated to do these things and they should come at a social cost.
“And that cost is the BOST margin; so, if you leave it to me, a private sector person, I am going to shut down all these other depots and also operate solely in Accra [and] Tema,” he added.
The full interview with the BOST Managing Director, Edwin Provencal, airs on The Pulse on the JoyNews channel at 3 pm today, September 21.
Latest Stories
- Dept Exchange Programme: Article 71 Office Holders must take a 50% haircut – Labour Federation
41 mins - CHAN 2022: CAF confirms change in kickoff time for final
46 mins - Newcastle sign Everton forward Anthony Gordon in £45m deal
2 hours - ‘We wanted a fresh start in 2023, but we have been worse’ – Klopp
2 hours - Brighton knock holders Liverpool out of FA Cup
2 hours - Moises Caicedo made ‘mistake’ asking to leave Brighton, says Roberto de Zerbi
2 hours - Pedri winner extends Barca’s La Liga advantage
2 hours - Chelsea sign teenage right-back Malo Gusto from Lyon in £31m deal
2 hours - Ghana signs agreements with Saudi Arabia on Hajj 2023
3 hours - Iraq reiterates support for Morocco’s sovereignty over Sahara
3 hours - Akufo-Addo’s loud silence on Auditor-General’s report shocking – Dr Apaak
3 hours - Bisa Kdei hosts fans and top industry players at ‘Original’ album listening party in UK
3 hours - Dr. Clement Apaak: Covid-19 expenditure audit report and Akufo-Addo’s posture
5 hours - Monkeypox Outbreak: Ghana records four deaths, 116 cases
5 hours - Playback: UCC and Mountcrest University go head to head on The Law Challenge
5 hours