Fuel shortage is not imminent – BOST

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The Bulk Oil Storage and Transportation (BOST) Company is disputing allegations that Ghana could soon run out of petroleum.

In recent weeks, some analysts have foreseen this scenario, citing the decline of the cedi as a major contributing cause.

However, according to Edwin Provencal, the managing director of BOST, the corporation also has access to other private storage facilities and at least 13 days’ worth of fuel in its own reserve.

He emphasized that the assertion “is completely false.”

“Tank farms can be found anywhere in the nation.

We had 13 days in BOST and nearly 40 days in private storage, so we are far from running out when I went back to check.

The BOST margin, which influences fuel prices, has been called for to be eliminated.

Mr. Provencal, however, thinks that this would have terrible effects on the supply of fuel outside the Greater Accra area.

“If you suggest eliminating the BOST margin because it has a price, that price is a societal one.

You are being fair and comparing apples to apples and oranges to oranges if you take away both the social cost and the BOST margin.

“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.

Source: Ghanatodayonline.com

 

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