The Chief Executive Officer of the Chamber of Bulk Oil Distributors, Senyo Horsi has assured Ghanaians the fuel situation will normalize by the end of July.
The shortage which hit the country about a week ago came in the wake of threats by the Bulk Oil Distributors (BDCs) of an imminent fuel shortage in the country.
Senyo Horsi revealed “there is stock available on the market, on the shores of Ghana; but it is just that it is on a financial hold. You pay you get financial access to it from the international suppliers.”
Mr. Horsi said the BDCs were unable to buy fuel because the banks were not ready to make credits available to them because they [BDCs] were “heavily indebted” to banks.
He stated the situation can be resolved when government settles its total which will enable the BDCs pay the international suppliers.
Last week, government released some funds to the BDCs which resulted in the supply of fuel to consumers o curb the acute shortage.
A week after the release of fuel onto the market, there are still reports of shortage of the product in the three northern regions of the country.
Mr Horsi in an interview with Citi News explained the reason for the shortage saying, it is due to the fact that the BDCs focused on easing the shortage in the southern sector.
“Logistically, we tried to focus on petrol distribution over the weekend to try and cover the acute shortage in Accra. Effective Monday, we went back to what will be a partial loading of both petrol and diesel,” he said.
According to him, his outfit has started sending supply to the northern sector “and have since sent out 5.4 million liters of gas oil but national consumption is about 5.6 million but because of the acute situation, we tried to deal with the southern situation which has a quicker turn around unlike the north because majority of the consumers are in the south.”
He was however quick to add that the situation will normalize by the weekend.
“We have started sending more Diesel fuel to the northern parts because that is what is mostly consumed and I believe the situation will partially stabilize by the weekend.”