Rising fuel prices: things are expected to get worse by December-Duncan Amoah

 



Duncan Amoah, Secretary-General of the House of Petroleum Consumers, said we failed to plan and prepare for the global oil crisis and it impact on Ghana's  economy, as the government is currently doing.
According to him, the current sharp rise in oil prices is a reaction to the lack of national planning and preparation. He said some attempts to force the government to address these issues were filled with negligence and defensive stance.
Regarding JoyNews PM Express Business Edition, he said: We are in a very difficult time and will not be a child's play until December.
"We continue to say these things so that we can take steps to avoid catastrophe. you would hear excuses, rationalization, and sometimes attempts to defend what we should be away from. "

He said it was fairly unreliable that the country's fuel supply relied solely on what could be stored by private companies selling petroleum products. He added that oil storage and transportation (BOST) facilities built to store crude oil to increase supply during these difficult times are negotiating deviating from that objective.
"There was good reason to build a tank farm to store and transport oil. He said it was modeled exactly like the American Oklahoma pillow. What they can do is store crude oil for as long as possible. That way, oil can be put on the market in the event of a problem. So they predict rainy days. we don't know how to plan. "We just buy and sell. That's all we do. So, if you read a lot of articles yesterday, BOST when you're worried about fuel costs and still paying a certain margin. Is profitable. To maintain the facility. Pay PDM to BOST to move products from one warehouse to another. The only benefit I get is that BOST is profitable. is. Well, that's good.

"But as a country, go back to what you created in 1993 when we decided to have a buffer. This buffer wasn't for the benefit, but for the protection of everyone when we got together during difficult and painful times, "he said.
"Unfortunately, as I said elsewhere today, the country of Ghana is probably moving along the Kumasi Road, but BOST is moving towards Takoradi," he added.

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