The Chamber of Petroleum Consumers (COPEC) has blamed the mode of implementation of the Gold for Oil Policy for the possibility of fuel shortages at some GOIL fuel stations.
Citi News investigations at GOIL fuel stations in Tudu, 37, Tantra Hill in Accra and at other pumps across the country reveal that GOIL has been running low on fuel, particularly petrol.
On Eyewitness News on Citi FM, COPEC Executive Secretary Duncan Amoah said the Gold for Oil Policy had disrupted the market and may have caused the shortage.
“If you are asking cash for Gold for Oil products when the other traders could simply bring them products on credit, you will simply lead to market disruptions.
“I will not be surprised to see that at some point we will abandon the programme altogether because it probably might not be bad if you look at the premise of it trying to save the forex situation but as to whether the module where you bring in so much documentation before you are able to buy the products before that you need to make available ready cash, the market does not operate like that.”
