Acting Deputy Chief Executive Officer of the Gaming Commission of Ghana, Lamtiig A. Apanga, has cautioned that growing speculation about a possible increase in fuel prices could trigger artificial shortages of products if businesses begin hoarding supplies in anticipation of higher prices.
Speaking on Breakfast Daily on Channel One TV on Tuesday, March 10, Mr Apanga warned that heightened public discussions about potential fuel price adjustments risk creating unnecessary anxiety in the market.
According to him, the continued speculation may encourage traders and suppliers to withhold products they intend to sell, waiting for prices to rise before releasing them onto the market.
“What worries me is that it appears we are raising anxiety and whipping up public sentiment about a likely increase. If we are not careful, people who have goods to sell may rather hoard them now in anticipation of a price increase and then release them when prices go up,” he said.
He noted that such behaviour could create an artificial shortage driven not by actual supply problems but by market perception.
His comments come as the Chamber of Oil Marketing Companies indicated that Ghana could experience fuel price adjustments in the next pricing window beginning March 16.
