The Bulk Oil Storage and Transportation Company Limited (BOST) is projected to lose nearly GH¢40 million monthly following the government’s suspension of its margin on diesel, Deputy Managing Director Nat Salifu Acheampong has disclosed.
Speaking in an interview on Monday, April 20, Acheampong revealed that while the margin on petrol remains intact, the removal of the diesel component is expected to significantly impact the company’s finances and operations.
“Within April, we are likely to lose close to GH¢40,000,000 off our books and that is serious business,” he stated, warning that sustained losses of that magnitude could adversely affect the company’s ability to function effectively.
He explained that the BOST margin serves as a critical source of funding for the company’s infrastructure and operational activities, including strategic fuel storage and pipeline development.
According to him, one of the key projects at risk is the planned upgrade of the Accra–Akosombo pipeline, which is expected to be expanded from six inches to twelve inches to improve fuel distribution nationwide.
“We still have the margin on petrol. It is only on diesel that we do not have the margin,” Acheampong said, adding that the company has been assured the measure is temporary.
He further appealed to authorities to restore the margin once current pressures ease, stressing that the funds are essential for delivering on BOST’s mandate.
