{"id":1130212,"date":"2022-06-21T19:29:45","date_gmt":"2022-06-21T19:29:45","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/06\/21\/no-need-to-panic-senyo-hosi\/"},"modified":"2022-06-21T19:29:45","modified_gmt":"2022-06-21T19:29:45","slug":"no-need-to-panic-senyo-hosi","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/06\/21\/no-need-to-panic-senyo-hosi\/","title":{"rendered":"No need to panic\u2014Senyo Hosi"},"content":{"rendered":"

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\n Accra, June 21, GNA-There is no need to panic about fuel shortage in the country, Mr Senyo Hosi, the Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, has said.<\/p>\n
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He said the country had one month fuel cover and urged the public not to engage in panic buying.<\/div>\n
\u201cYes, we are having challenges accessing dollars and if that continues, we will not be able to buy fuel.\u202f\u202fThat has been anticipated and we are working with the respective institutions to keep the situation stable,\u201d he said in reaction to concerns of imminent fuel shortage.\u202f<\/div>\n
Mr Hosi\u202fsaid though\u202fthe Bank of Ghana\u202f(BoG) through a special dispensation was providing\u202fBulk Oil Distributing Companies (BDCs)\u202fdollars, it was not enough.<\/div>\n
\u202f\u201cThe BoG started with giving BDCs 50 per cent of our required dollars. This has been scaled down to about 25 per cent. We had to go to the open market to buy additional forex to supplement it,\u201d he said.<\/div>\n
A Bloomberg report, today Tuesday, June 21, 2022, said the country\u202ffaced a looming fuel shortage as the central bank rationed dollars after oil prices surged following Russia\u2019s invasion of Ukraine.<\/div>\n
It said the monthly fuel import bill for the\u202fcountry increased\u202fto $450 million in May, from $250 million in January. \u202f<\/div>\n
The report said the central bank was only offering about $100 million a month at its foreign exchange auctions, and that licensed bulk distributors could no longer plug the shortfall in the black market.<\/div>\n
Mr Abdul Kudus, the Public Relations Officer of National Petroleum Authority said there was enough stock\u202fto meet domestic demand contrary to speculations in the media.<\/div>\n
He said the\u202fNPA was continuously monitoring the weekly schedule of fuel imports to ensure that there\u202fwas constant supply.<\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Accra, June 21, GNA-There is no need to panic about fuel shortage in the country, Mr Senyo Hosi, the Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, has said. He said the country had one month fuel cover and urged the public not to engage in panic buying. \u201cYes, we are having […]<\/p>\n","protected":false},"author":1,"featured_media":1130214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[18482,18483],"class_list":["post-1130212","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-hosi","tag-panicsenyo"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1130212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1130212"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1130212\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1130212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1130212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1130212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}