The slight decrease in fuel prices has been credited to the joint efforts of the Bank of Ghana and the Bulk Oil Distributors.
Dr. Patrick Ofori, Chief Executive of the Chamber of Bulk Oil Distributors (C-BOD), stated that the collaboration was vital in stabilizing fuel prices.
This price reduction aligns with predictions made by the Institute of Energy Security (IES).
Dr. Ofori emphasized the need for enhanced cooperation between industry stakeholders and regulatory bodies to ensure price stability and improve efficiency in the downstream petroleum sector.
“We are happy now because, with this window, the prices have gone down. And it’s because of some level of engagement and collaboration with the central bank that they’ve realized that there is a need for them to pick up our demand for forex.”
“Once the central bank will turn in a reef for us and guarantee that the forest has the liability to pay our supplies, there is greater look on and ensure that in your private data, you cannot use any rig beyond what the transaction that you’ve had in the Bank of Ghana. We deal directly with the Bank of Ghana. So these are the kinds of collaboration that we want to enhance,”
