CBOD CEO Urges Measured Approach as Fuel Price War Tests Ghana’s Downstream Stability
As Ghana’s fuel market experiences an aggressive price war and ongoing debates over regulatory policies, the CEO of the Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick Kwaku Ofori, calls for a measured and disciplined approach to preserve stability and protect the downstream petroleum sector from systemic risks.
Accra | January 20, 2026 - The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick Kwaku Ofori, has called for restraint and discipline in Ghana’s ongoing fuel price war, warning that unchecked competition risks undermining the stability of the downstream petroleum sector.
Speaking on Business Live on Joy News, Dr. Ofori situated the current pricing battles within a market that is fundamentally driven by credit, stressing that aggressive undercutting without strong credit controls could spread financial risk across the value chain.
He cautioned that a free-for-all pricing environment, particularly one involving inferior or compromised fuel quality, poses systemic risks to the sector. Such practices, he noted, do not only threaten legitimate operators but also weaken consumer confidence and the integrity of the downstream market as a whole.
Since December’s second pricing window, Ghana’s fuel market has experienced a sharp decline in prices, dropping ~ 30 percent year to date. Oil marketing companies (OMCs) have aggressively competed for market share, driving pump prices into single digits for the first time since 2022.
Leading this intense battle are Star Oil and GOIL, whose CEOs have clashed publicly over regulatory policy. Star Oil’s CEO, Philip Kwame Tieku, has called for the abolition of the price floor policy, arguing it hampers competitive pricing and market efficiency. In response, GOIL’s CEO Edward Abambire Bawa, has pushed back, emphasizing the importance of the price floor in maintaining market stability and protecting legitimate operators from destructive undercutting.
The National Petroleum Authority (NPA), Ghana’s downstream regulator, on the other hand, has firmly dismissed the calls for scrapping the price floor, insisting that it is crucial for the protection of a downstream market in the throes of evolution. This ongoing debate underscores the complex tensions within Ghana’s downstream sector amid efforts to balance fair competition and regulatory oversight.
Dr. Ofori acknowledged the role of the Bank of Ghana in managing foreign exchange pressures at a time of heightened demand, noting that the central bank’s interventions have been critical in sustaining market fluidity and ensuring continued access to fuel imports.
