COPEC Urges Government to Revive Local Refineries Amid Soaring Fuel Prices
Accra, May 16, 2025 – The Chamber of Petroleum Consumers (COPEC) is urging the government to reactivate local oil refineries, including the Tema Oil Refinery (TOR), to combat Ghana’s rising fuel costs and ease the economic pressure on consumers.
Paul Eric Ofori, Head of Research at COPEC, made the call during an appearance on Channel One TV’s Breakfast Daily on Friday, describing the current dependence on imported refined petroleum products as economically unsustainable.
“Let’s get TOR running, get the private refineries also running, let’s cut down importing finished petroleum products into the country. It is so expensive, we cannot sustain it,” Ofori stressed.
He argued that revamping domestic refining capacity would grant Ghana greater control over pricing, helping stabilize the market and shield consumers from global price shocks.
“I see no reason why we should be buying petrol and diesel at 15 and 14 cedis. It is unheard of,” he added.
The comments come at a time when fuel prices at the pump have soared, contributing significantly to the cost of living crisis in Ghana. COPEC’s call aligns with growing public sentiment that more sustainable, long-term solutions are needed to secure energy affordability and economic resilience.
The government is yet to issue an official response to COPEC’s appeal.
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