The Managing Director of the Tema Oil Refinery (TOR) Edmond Kombat has been speaking about how fuel price stability can be guaranteed in Ghana with an amendment of the Petroleum Management Act to enable the purchase of Ghanaian crude oil from Ghana National Petroleum Company (GNPC) and their partners using Ghana cedis and not dollars, in addition to ramping up production at TOR using Ghanaian crude to literally eliminate the dollar ‘wahala’.
Speaking at a press briefing in Accra on Monday (Oct 26, 2026), he said closed to $60billion is spent every year importing petroleum products according to the import bill.
He said if the Petroleum Management Act which states that crude should be purchased in dollars is changed and TOR is able to buy crude oil in Ghana cedis, “the impact of the dollar, you will not feel it at the pump, we will be able to guarantee price stability in a way that will be more beneficial to Ghanaians."
“When we [TOR] also ramp-up production and we can guarantee the security of almost 100% of the domestic need, instead of using Platts and Brent, NPA (National Petroleum Authority) can start using TOR cost benchmark to be able to predict the price and there will be stability," he added.
TOR MD Edmond Kombat on how fuel price stability can be guaranteed in Ghana with an amendment of the Petroleum Management Act to enable the purchase of Ghanaian crude oil from GNPC and their partners using Ghana cedis and not dollars, in addition to ramping up production at TOR https://t.co/1XoQuGIEcw
— DailyGraphic GraphicOnline (@Graphicgh) October 27, 2026
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