The Bulk Oil Storage and Transportation Company Limited (Bulk Oil Storage and Transportation Company Limited) says it could lose nearly GH₵40 million in April alone following the government’s decision to suspend the BOST margin on diesel.
The company’s Deputy Managing Director, Nat Salifu Acheampong, raised the concern in an interview on Monday, April 20, explaining that while the margin on petrol remains in place, the suspension on diesel is already creating serious operational and financial pressure.
“We still have the margin on petrol. It is only on diesel that we do not have the margin,” he said. “But we’ve been promised it is only for a short period. So we are appealing to Parliament to also sing our song.”
Mr. Acheampong warned that the suspension could affect key infrastructure projects, including the planned replacement of the company’s ageing Accra–Akosombo pipeline. He explained that the current six-inch pipeline is expected to be upgraded to a 12-inch system to improve efficiency and support fuel distribution nationwide.
“All these facilities you have seen, we need to replace the pipeline from Accra to Akosombo,” he said. “This pipeline will benefit the whole country. Once we replace the existing six-inch line with a 12-inch one, we depend on the BOST margin to finance it. If we lose it completely, we will not be able to do that.”
Describing the financial impact as significant, he noted that the company could lose about GH₵40 million within a single month.
“GH₵40 million off our books is serious business,” he said. “If this continues over time, our operations will be adversely affected.”
He therefore appealed to lawmakers to ensure the margin is restored once the current fuel price pressures ease, stressing that the funds are crucial for maintaining national fuel infrastructure.
“We are appealing to the powers that be; when the crisis is over, they should restore the BOST margin for the good people of Ghana,” he added.
The BOST margin is a levy on petroleum products used to support the company’s mandate of maintaining strategic fuel reserves and developing national fuel infrastructure. The government recently suspended the diesel component of the margin as part of efforts to ease fuel prices for consumers.