The Bulk Oil Storage and Transportation Company Limited (BOST) has revealed that it has uncovered some Ghanaians and foreigners who are operating illegally in the petroleum sector.
BOST therefore pledged to stop the activities of the unscrupulous and irresponsible black market dealers, who over the years, have manipulated the downstream sector which accounts for the high fuel prices.
“Government cannot leave such a sensitive national issue wholly in the hands of a few private men who have formed a league to exploit the state,” Ekoy Sey, BOST Senior Staff Union Secretary stated.
Mr Sey, addressing the media in Accra, explained that BOST has established a relationship with Ghana Oil Company Limited (GOIL) the nation’s foremost indigenous Oil Marketing Company (OMC) and GO Energy, a subsidiary of GOIL operating in the Bulk Distributing stream, to protect Ghana from the exploitation of the black market dealers.
“Fuel price at the pump is about GHC4.51 per litre on the average which is about GHC20.30 per gallon, we have the capacity with appropriate governmental support to bring the price down and maintain it at a lower price level for long period through the trading arrangement existing between BOST, GO Energy and GOIL.
“If the situation is not arrested the prices of fuel will continue to go up again, especially in the next pricing window, thereby rendering the tax reduction granted ineffective which would have a multiple effect on the Ghanaian economy.
“Government must support BOST to take control of the petroleum sector to make life easy for Ghanaians,” he said.
He also appealed to the Ministry of Finance and the Bank of Ghana to waive the single obligor limit on the line of credit to BOST for petroleum product importation.
Mr Sey also called for non-partisan support to enable BOST to fight the petroleum sector cartel which is responsible for high petroleum prices.
“High petroleum prices affect everyone, be it New Patriotic Party, National Democratic Congress, Convention Peoples’ Party among others. The bottom line is that every Ghanaian is affected by the high petroleum prices. We must all support BOST to bring petroleum prices down to ease the pressure on ordinary citizen,” he said.
Mr Sey revealed that the Junior Staff Union and the Senior Staff Union were appealing to government to support BOST to stabilise petroleum prices in the country.
The workers said it is only BOST that has adequate infrastructure and the human resource to reduce the prices of petroleum products.
“Government should pay attention to them and ignore the selfish and greedy people who have formed a cartel that has dominated the industry to the detriment of the economy.”
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