TOR restart could influence pump prices depending on refinery’s crude sourcing- ACEP

Kodzo Yaotse, Policy Lead for Petroleum and Energy at the African Centre for Economic Policy (ACEP), says the impact of the Tema Oil Refinery’s (TOR) restart on Ghana’s fuel market will largely depend on how the facility operates.

Speaking on Pulse on JoyNews, Yaotse noted that the refinery’s ability to supply the market consistently over the long term is key to stabilising prices.

“To the extent it will be able to influence the market in terms of price stability will largely depend on one, its reliability—that is, is it able to refine the product and supply the market over a longer term,” he said. Yaotse added that whether TOR sources its own crude or operates as a tolling facility, refining crude for third parties, will determine its influence on fuel prices.

Source: www.myjoyonline.com

Read full article