Head of Research at the Chamber of Petroleum Consumers (COPEC), Paul Eric Ofori, has called on the government to urgently revive local oil refineries and reduce the country’s heavy reliance on imported fuel, as a long-term measure to address Ghana’s rising fuel prices and economic strain on consumers.
Speaking on Channel One TV’s Breakfast Daily on Friday, May 16, he expressed concern about Ghana’s continued reliance on imported refined petroleum products, describing the current system as economically unsustainable.
“Let’s get TOR running, get the private refineries also running, let’s cut down importing finished petroleum products into the country. It is so expensive, we cannot sustain it. That way, we can have a way of reducing the prices internally.”
He argued that revamping the local refining industry would give Ghana greater control over fuel pricing and ease the pressure on consumers who are currently paying high prices for petrol and diesel at the pumps.
“I see no reason why we should be buying petrol and diesel at 15 and 14 cedis. It is unheard of.”
