We Won’t Inflate Fuel Prices To Fund New Imports – CBOD Sends Strong Message To Ghanaians

According to a report by Joy News on Friday October 30, 2026, the Ghana Chamber of Bulk Oil Distributors (CBOD) has assured Ghanaians that its members are committed to maintaining fair fuel prices and will not deliberately increase the cost of petroleum products to raise money for their next imports.

The assurance comes amid concerns about rising fuel prices and the potential impact of international market developments on petroleum supplies in Ghana.

Speaking on Joy News’ PM Express Business Edition on Thursday, October 29, 2026, the Chief Executive Officer of CBOD, Dr Patrick Kwaku Ofori, explained that bulk oil distributors had maintained responsible pricing practices despite the challenges confronting the petroleum industry.

According to him, some importers could be tempted to increase the prices of fuel already available in the country to generate additional funds for purchasing their next consignments.

However, he insisted that CBOD members had resisted such practices to prevent consumers from bearing unnecessary financial burdens.

Dr Ofori explained that the chamber was closely monitoring the activities of its members to ensure that businesses operated ethically and did not exploit the public during the period of uncertainty in the global petroleum market.

He maintained that the organisation had also adopted internal monitoring measures to ensure that distributors remained accountable and conducted their businesses in a transparent manner.

The CBOD chief executive stressed that fuel already imported into the country and priced must be sold under the applicable market arrangements so distributors can recover their investments and meet their financial obligations to international trading partners and banks that support their import activities.

He explained that the ability of distributors to recover their capital from existing stocks was important in sustaining their operations and ensuring that subsequent fuel consignments could be secured.

Beyond pricing concerns, Dr Ofori also reassured Ghanaians that the country would not experience fuel shortages in the coming months.

He disclosed that arrangements had been made to secure the necessary fuel cargoes through December, expressing confidence that the country would maintain a consistent supply of petroleum products.

He further indicated that the major bulk oil distributors had continued supplying the Ghanaian market despite the difficulties in the international petroleum sector.

According to him, the companies had prioritised meeting local demand and serving Ghanaian consumers before considering opportunities to export petroleum products to neighbouring countries.

Dr Ofori said the industry’s commitment to local supply, coupled with cooperation among distributors and oil marketing companies, had helped prevent disruptions in the domestic market.

His comments are expected to reassure motorists, transport operators, businesses and households concerned about the possibility of further increases in fuel prices and supply difficulties.

The CBOD’s position also places renewed attention on the responsibility of petroleum distributors to balance the financial demands of importing fuel with the need to protect consumers from excessive pricing practices.

With fuel costs remaining a major concern for many Ghanaians, the chamber says its members will continue working to maintain reliable supplies while ensuring that consumers are not unfairly exploited.

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