Ghana has scaled back petroleum product shipments to Burkina Faso and Mali as growing consumption at home places pressure on supplies and pushes up fuel costs.
The state-owned Bulk Oil Storage and Transportation (BOST) Energies has reduced deliveries of petrol and diesel to the two neighbouring countries since August, choosing to give priority to the Ghanaian market.
BOST Managing Director Afetsi Awoonor told Reuters that Burkina Faso received only half of the 80,000 metric tonnes of fuel it sought for July and August.
Mali, meanwhile, received 10,000 tonnes during the period, although it had requested another 40,000 tonnes for August and September.
The reduction underscores the difficulties confronting Burkina Faso, Mali and Niger, which depend significantly on petroleum imports from coastal states such as Ghana and Côte d’Ivoire.
Mr Awoonor explained that consumption in Ghana has continued to rise alongside expanding economic activity.
BOST currently accounts for roughly 30 per cent of the country’s petroleum market, with diesel making up about two-thirds of its distribution.
“Supply is available, but it’s at a high cost,” he said, noting that increased consumption has tightened the market and complicated efforts to maintain stable prices.
Meanwhile, petroleum prices in Ghana rose during the second pricing period of September after the National Petroleum Authority (NPA) adjusted its minimum benchmarks from September 16.
The new floor for petrol stands at GH¢16 per litre, compared with GH¢14.53 previously, while diesel increased from GH¢15.60 to GH¢16.77 per litre.
For liquefied petroleum gas (LPG), the minimum benchmark moved from GH¢10.85 to GH¢10.97 per kilogramme.
Although the petroleum sector operates under deregulation, the NPA establishes minimum reference prices at the start of each pricing window.
Individual oil marketing companies may charge different rates based on their expenses and business decisions.
Fuel costs had declined earlier in the year following gains by the cedi and government measures, but renewed volatility in international energy markets has since increased pressure on domestic prices.
Mr Awoonor also announced plans by BOST to construct an LPG import terminal in Tema by the fourth quarter of 2027.
The company is additionally considering an LPG storage depot in Kumasi, with longer-term plans to develop terminals at six sites across the country.
The proposed facilities are intended to strengthen LPG imports, expand storage capacity and improve the nationwide supply of cooking gas.
By: Magdalene Agyeiwaa Sarpong