Fuel Availability Isn’t an Immediate Concern, But Price- Energy Ministry
The Ministry of Energy has maintained that the country has enough fuel stock to meet demand amid the tensions in the Middle East caused by war involving Iran, Israel and the US.
It indicated that supply was not an immediate concern; rather, the focus was on prices.
It said efforts have been invested to ensure an available fuel supply; however, stable prices are not guaranteed.
“We are not immediately threatened by the supply or the availability of the product. What we are immediately threatened with is the price.
“Are we able to maintain the price? That is a big question that we are looking at,” the Technical Advisor at the Ministry of Energy and Green Transition, Dr Yussif Sulemana, to CNR in an interview.
He disclosed that there are ships docked at the harbour with supplies of fuel that could cater for 10 weeks’ demand of the country.
“We have only to ensure that we maintain the availability of supply. After we made the announcement, we have been working closely with the NPA, and they have given us the assurance that we can go beyond the five weeks,” he stated.
On Monday, global oil prices reached nearly $120 over fears of a prolonged disruption to energy supplies through the key Strait of Hormuz shipping route, and the UK’s FTSE 100 share index fell 1.3%.
Story by Hajara Fuseini
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