The National Chairman of the General Transport, Petroleum and Chemical Workers’ Union (GTPCWU) of the Trades Union Congress Ghana, Bernard Owusu, has cautioned that Ghana faces significant fuel supply risks if urgent and strategic policy measures are not implemented.
In a strongly worded statement, Mr. Owusu stressed that fuel supply stability cannot be maintained through “slogans or media gymnastics” but requires disciplined and forward-looking policies, especially in the face of mounting global uncertainties.
He pointed to escalating geopolitical tensions, attacks on critical energy infrastructure in the Gulf region, and disruptions to key maritime routes as major factors tightening global oil supply and increasing market volatility. According to him, rising freight costs, surging insurance premiums, and intensified competition for petroleum products are making fuel not only more expensive but increasingly difficult to secure.
Mr. Owusu warned that countries without clear strategies risk facing real shortages, citing Ethiopia as an example already experiencing supply constraints. He noted that Ghana’s current fuel reserve, estimated at about six weeks, leaves the country vulnerable amid extended lead times and tightening cargo availability.
To address the risks, the union leader called on government to implement decisive measures, including allowing Bulk Distribution Companies to operate under true market conditions to maintain liquidity and competitiveness, and avoiding price controls that could distort market signals and weaken import capacity.
He further urged the strengthening of strategic stockholding through the Bulk Oil Storage and Transportation Company (BOST), as well as restoring the role of the Tema Oil Refinery in building crude and product buffers. Enhancing foreign exchange support for fuel imports was also highlighted as critical, given the increasing importance of dollar access in securing supplies.
Beyond supply concerns, Mr. Owusu emphasised the need to protect Ghanaian workers from the impact of rising fuel costs. He proposed targeted transport support for essential workers, wage adjustments in key sectors to reflect inflationary pressures, and improvements in public transport systems to ease the burden on individuals.
Additional recommendations included temporary tax relief on essential goods and targeted support for fuel-dependent industries to prevent layoffs and job losses.
He cautioned against broad subsidies, noting that they often distort the system and create unsustainable debt. Instead, he advocated for smart, targeted, and transparent interventions focused on protecting livelihoods.
“Energy security is economic security—and worker protection must be at the center of both,” he stated, warning that failure to act could have far-reaching consequences on transport, food prices, industry, and overall livelihoods.
Mr. Owusu concluded by urging swift action, stressing that Ghana cannot afford to wait for fuel shortages to manifest before responding.
