COPEC Proposes Strategic Fuel Reserve Fund to Protect Consumers

#COPEC #FuelPricesGhana #DuncanAmoah #GhanaEnergy #ChannelOneBusiness #ChannelOneTV

The Chamber of Petroleum Consumers (COPEC) is advocating for the establishment of a strategic reserve fund to help Ghana build fuel stocks when international refined petroleum prices are favourable.

COPEC says the move will help cushion consumers from sharp increases in fuel prices during periods of global market volatility.

The call comes amid renewed geopolitical tensions in the Middle East, which have contributed to rising global oil prices and fuel price increases in Ghana during the second pricing window for July.

Speaking to Channel One Business, Executive Secretary of COPEC, Duncan Amoah, explained why a strategic reserve mechanism could help improve fuel price stability.

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