Mr. Ubeidalah Kutia Saeed, Head of Quality Control at the National Petroleum Authority (NPA), has revealed that Ghana has the highest standard of petroleum quality in West Africa.
He has, therefore, assured that the Authority would continue to put in quality control measures along the value chain to guarantee the integrity of petroleum products in the country.
He also stressed the commitment of NPA to continue to deploy petroleum products marking schemes to reduce adulteration of petroleum products.
He urged petroleum consumers to report issues of suspected fuel adulteration to ensure prompt investigations and redress.
He was addressing journalists on petroleum pricing formula and quality in the country.
The briefing was to equip the media with the requisite knowledge to educate the public on how the prices of petroleum products are determined in the local and international markets.
It was also to educate the participants on the need for best fuel quality.
For his part, the Head of Economic Regulation at NPA, M. Ibrahim Abass Tasunti, explained that pricing of petroleum products was based on demand and supply in both the local and global markets.
He indicated that factors such as political unrest, geopolitics, wars, natural disasters, pandemics and the strength of the United States dollar among others, affect the pricing of petroleum products.
He noted that though Ghana produces crude oil, it consumes more petroleum products than what it produced, adding that producing oil and having an oil refinery did not guarantee low fuel prices.
According to him, refineries only help to guarantee security of supply but do not guarantee low prices.
He said Ghana owns only 27,000 barrels representing 18 per cent of the 150,000 barrels of crude oil produced in the country daily.
From Emmanuel Opoku, TakoradiÂ