The Chief Executive of the Chamber of Bulk Oil distributors, Senyo Hosi has said that the country will experience fuel shortage till government cleared the debt of approximately GHc1.8billion it owed the chamber.
He disclosed that the debt needed to be cleared in order to allow BDCs pay their international suppliers because the banks were not ready to make credits available because they were heavily indebted to them.
“There is stock on the market, on the shores of Ghana but it is just that it is on financial hold. You pay; you get financial access to it from the international suppliers”, Hosi said.
Ghana, according to him, currently has just three days of stock. The situation, he added, will be resolved after their debts are paid.
Business World checks revealed the severe shortage of the product in Osu, Labone, Dansoman, Ridge, Kokomlemle and Adabraka. Places that had fuel were crowded with many cars and individuals carrying yellow gallons.
The shortage comes in the wake of threats by the bulk oil distributors of an imminent fuel shortage that will rock the country.