TOR Explains Fuel Shortages In Accra.

The management of the Tema Oil Refinery (TOR) yesterday confirmed that there is petrol shortage in some parts of the Accra-Tema metropolis.

It said the apparent shortage might be due to supply interruption and low deliveries to the market the previous week.

A release signed by the C.E.O of the Refinery, Dr Yaw Akoto, explains that the inability of one of its gasoline supplies to deliver 27,000 metric Tons of petrol (a two-week supply) in mid January had put intense pressure on the stock position

TOR delivered to the market about 9,000 metric tons last week, instead of the normal 11,000 metric tons supply. The reduction in delivery last week was to ensure no stock-out prior to the arrival of the next gasoline cargoes.

The release said that speculative buying from retailers who might be hoarding petrol in anticipation of price increases, and increase smuggling activities at the border towns as a result of recent increase in fuel prices in neighboring countries might be contributory factors to current shortages.

The release also stated that, TOR has increased its daily deliveries in excess of one million litres to the Accra-Tema area, which consumes over 60per cent of the nation's petrol supply.