Fuel shortage due to gov’t non-payment of oil companies - Tarzan

Former Chief Executive Officer (CEO) of the Volta River Authority (VRA), Dr Charles Yves Wereko-Brobbey, has attributed the shortage of fuel in the country’s capital to mismanagement of the economy by government.

He said that has escalated in the non-payment of the bulk distributing companies.

“A lot of them are owed a lot of money by government and I think they have decided that they cannot continue to give petrol,” Dr Wereko-Brobbey, popularly called Tarzan, told our correspondent on energy in an exclusive interview on Tuesday, January 28, 2014.

He said the implementation of the Automatic Adjustment Formula by the National Petroleum Authority (NPA) would solve the periodic shortage of fuel since it goes beyond the fortnight reviews.

“These are to do with macroeconomic management than to do with specific products,” he told TV3’s Sandra Amarquaye.

“The problem is the proper management of the economy to ensure that we have stable currency because global oil prices have not increased but the Cedi is falling,” he pointed out.

Meanwhile, the NPA has attributed the shortage to the delay of cargo two weeks ago.