Gasoline shortage at TOR

Accra, Sept. 27, GNA - The inability of the Tema Oil Refinery (TOR) to obtain letters of credit for the discharge of gasoline last Friday created shortage of fuel in the country.

This, coupled with the anticipated increase in the price of fuel as announced by the Bulk Oil Storage and Transport Company (BOST) mid last week prompted panic buying of fuel early this week by fuel consumers and dealers, private and commercial drivers and the general public.

Long queues were seen at major filling stations in the Accra Metropolis at the weekend and this morning with buyers waiting to buy fuel. Some drivers who could not wait for longer periods abandoned the queues and drove to the Airport and other less crowded filling stations.

In an interview with the Ghana News Agency (GNA) on the situation, Mrs Veronica Wiredu, Chief Director of the Ministry of Mines and Energy, said as at Friday morning TOR was finding it difficult to obtain the letters of credit to enable it to discharge gasoline, which had then arrived.

Mrs Wiredu who verified the situation in the presence of the GNA reporters, explained further that TOR was also discharging crude oil on that Friday and this, therefore, caused a delay.

Mrs Wiredu confirmed, however, that TOR on Saturday rectified the problem and started discharging and releasing gasoline, adding that the situation will normalise during the week.

On the possibility of the creation of artificial shortage due to hoarding by fuel dealers due to the anticipated increase in price, Mrs Wierdu said there has not been any indication to warrant that. "There is nothing that should cause a sudden shortage at this time."

Mrs Wiredu was optimistic that with the release of gasoline by TOR, the problem will soon be over. She said BOST announcement was only meant to explain what is happening at the international market.

Mrs Wiredu said may be people are buying fuel with the anticipation that the price of fuel will soon go up and probably hoarding.