PRESS RELEASE
FOR IMMEDIATE RELEASE – Rejoinder to the Headline: “Fuel Prices Could Change Daily as Bulk Oil Distributors Abandon Fixed Pricing Model”
Accra, Ghana – 3 August 2026 – The Ghana Chamber of Bulk Oil Distributors (CBOD) wishes to clarify that the headline published by Joy Business on MyJoyOnline on 3 August 2026 misrepresents the Chamber’s position and does not reflect the current pricing regime in Ghana’s downstream petroleum sector.
CBOD wishes to state unequivocally that the industry’s biweekly pricing framework, supervised by the National Petroleum Authority (NPA), remains unchanged. Neither Bulk Import, Distribution and Export Companies (BIDECs) nor Oil Marketing Companies (OMCs) have abandoned this system.
The Chamber’s comments referred only to temporary within-window price adjustments adopted in response to exceptional volatility in international petroleum markets. These price adjustments which are consistent with indicative pricing report by the NPA are a risk management measure designed to reflect changing replacement costs, support fuel supply, and maintain market stability during periods of significant uncertainty.
This should not be interpreted as a move to daily fuel pricing.
CBOD also notes that within-window price adjustments can be both upward and downward, depending on international market conditions. Consumers have previously benefited from price reductions when global prices declined.
CBOD therefore wishes to assure the public that the industry’s commitment to transparency, consumer protection, regulatory compliance, and the reliable supply of quality and affordable petroleum products remains unwavering. The Chamber encourages the public to consider the full context of industry statements and engagements across both traditional and social media platforms and to avoid drawing conclusions based solely on headlines that may inadvertently create the impression that Ghana’s established biweekly pricing framework has been abandoned by BIDECs and OMCs.
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Signed, Patrick Kwaku Ofori, Ph.D – CEO