Ghana consumes 90,000 barrels of fuel a day, TOR can refine 54,000 a day, make TOR work again to reduce prices of fuel in Ghana – COPEC
Head of Research at the Chamber of Petroleum Consumers (COPEC), Benjamin Nsiah has said that fuel prices in the country will drop drastically if the Tema Oil Refinery is fully operationalized.
Benjamin Nsiah speaking on Kesseben Maakye stressed that the Government of Ghana should own up that there is a fuel crisis in the country and get a roadmap for tackling all this important issue.
According to him, Ghana can not go the Nigerian model by taking off some of the taxes on fuel products but there are a number of alternatives which realistically can help make fuel prices come down in Ghana.
He noted that the importation of petroleum products from European countries can be relooked and consider importing the products from relatively cheaper continents like Asia or the middle east.
Quite apart from having to import these products into Ghana, the petroleum expert reiterated that there is a need to get Tema Oil Refinery back into full operation.
He underscored that for a country like Ghana which consumes 90,000 barrels of fuel a day if the Tema Oil Refinery which has the capacity of refining 54,000 barrels of fuel in a day, it is just commonsensical to make it work and get approximately 70% of fuel consumption in Ghana come from TOR.
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