Fuel relief talks likely if crude hits $120 – NPA boss Edudzi Tamakloe

The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has signalled that government may be forced to make major decisions if global crude oil prices rise to $120 per barrel.

Speaking on PM Express on Joy News, he indicated that such a price level would trigger deeper policy discussions at the highest levels of government.

“Anything beyond maybe $120 per barrel for the world price of crude, then the conversations can be firmed up,” he said.

His comments come amid growing concerns over fuel price volatility and its impact on consumers.

Mr Tamakloe said authorities are currently observing how global markets react before taking any concrete decisions, stressing that some interventions require broader consultations.

“Some of these decisions require broader conversation, possibly ministerial or Presidential level. What we have is a window to study how the market will generally react, which will inform some of the decisions. 

“If this becomes more extended, that one, I know that there will be a bigger conversation, just that I do not have the authority to make some disclosures now.”

Pressed on what assurances can be given to consumers on price stability, he suggested that any firm guarantees would depend on how the global situation evolves.

He acknowledged that rising crude prices would inevitably affect local fuel prices, reinforcing concerns about the direct impact on consumers.

However, he pointed to growing concern at the highest level of government over the situation.

“In the past few days, the President had been generally concerned about prices. He has been greatly concerned that I can tell you.”

Mr Tamakloe added that government would act within its mandate to cushion consumers if necessary.

“And so if there is anything within the rules books on how to mitigate the impact for the average Ghanaian, the President will not hesitate at all. I mean, his record is there.”