Dr. Patrick Kwaku Ofori, CEO of the Chamber of Bulk Oil Distributors (CBOD), has dismissed reports that Ghana is switching to daily fuel price adjustments. He maintained that the country’s current bi-weekly pricing system remains fully in place.
His comments follow growing public speculation that high volatility in global petroleum markets might force a shift to daily price changes at the pumps.
Speaking in an interview on Monday, August 3, Dr Ofori clarified that there has been no change to the regulatory framework governing fuel pricing, stressing that prices continue to be reviewed within the bi-weekly pricing window prescribed under the country’s petroleum pricing system.
Furthermore, he noted that Bulk Distribution Companies (BDCs) do not set the review schedule. Instead, the country’s regulatory framework determines the timeline.
Addressing the rumours directly, Dr Ofori explained:
“It is not absolutely correct because of the pricing window that we have. It is not the BDCs that determine how the nation should adopt what pricing window.”
“Here’s how it works: just as we negotiate with oil marketing companies, our members—who buy from local refineries or international traders—use flexible pricing to manage their transactions.
To protect against market volatility, some companies limit their exposure. For example, they may apply the agreed two-week pricing schedule to just 20 to 30 per cent of their traded volume.”
While some fuel suppliers use flexible pricing to deal with market volatility, Dr Ofori made it clear that this does not change the nation’s overall pricing model.
These arrangements are simply business decisions to cushion against global price swings—not a shift to daily price adjustments at the pump.
