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TOR’s 100,000 barrels per day capacity could bring fairer fuel pricing regime – Energy analyst
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News – MyJoyOnline
Benjamin NsiahEnergy analyst Benjamin Nsiah says achieving the government’s target of increasing Tema Oil Refinery’s (TOR) capacity to 100,000 barrels per day could transform Ghana’s petroleum pricing system and make fuel prices more transparent.
"The difference is that there is likely going to be fair pricing of petroleum products locally because all the costs associated with petroleum pricing will be known and also be a bit transparent," he said.
He noted that Ghana's current petroleum pricing structure relies heavily on international benchmarks because the country imports a significant portion of its finished petroleum products.
The energy analyst said such a system could help stabilise prices and potentially make petroleum products more affordable for consumers.
So the issue of fairness in pricing will also come to play when TOR does this 100,000 barrels per day," he stated.