Dear Motorists anytime you are at any filling station to buy fuel, you should concentrate and observe these tit bits BEFORE AND AFTER YOU ARE SERVED to ensure your safety and value for money.
1.Pull up at the pump Island before your fuel tank is opened.
2.Switch off your engine.
3.Closely observe both the quantity and price indicators of the pump; ensure that it reads ZERO, before you are served.
4.Avoid mobile phone conversations and please be attentive for the moment and be involved in the process.
5.Do not smoke in the forecourt of the filling station.
6.Do not buy fuel dispensed from a pump with a Ghana Standard Authority’s `RED STICKER`.
7.Ensure that the Ghana Standards Authority’s ‘GREEN STICKER’ is displayed on the serving dispensing pump.
8.Open your tank and request the attendant to serve you. Make your request in litres or the cedi equivalent (not in gallons).
9.Ensure that the quantity / volume of product on the display is in litres.
10.Observe the amount indicated on the pump display is what you are paying for.
11.If you suspect any foul play, report to the manager or supervisor of the station. If you are not satisfied, contact the NPA on Vodafone toll free number 080012300 or on NPA’s main lines 0302-766195/6.
Open doors and windows to get rid of the gas.
Extinguish all sources of naked flame (coal pots, cigarettes, etc)
Check and see if the gas has been left on.
If not, there is probably a gas leakage, so turn off the regulator and call technicians to service your stove.
If it is safe to do so, try to locate the source of the leak by applying a solution of soapy water to the base of your cylinder valve or along the flexible hose. If bubbles appear and become bigger or increase in number then you have a leak. Knowing where the leak is helps prevent accidents.
Do not turn electrical switches on or off.
Don’t use matches or naked flames, do not smoke.
Don’t use naked flames to check for leakage.
IN CASE OF FIRE
Remember, fire needs three ingredients:
Heat to ignite
If you have to deal with a fire remember these point:
React quickly – a small fire is easier to deal with than a larger one.
Alert every one of the fire and evacuate the building.
Never try to deal with the fire if it is unsafe to do so.
Think of a fire triangle and try to remove one of the ingredient of the fire.
Always approach fire from upwind and only if it is safe to do so.
If there is fire in the kitchen or near the cylinder, put off the regulator and try to remove the cylinder away from the fire, if it is safe to do so.
Attempt to put off fire with fire extinguisher (dry powder fire extinguishers are the most effective for use of LPG fire).
Do not use water to put off fire where LPG is present.
Call the fire service.
Brent crude oil trades in a range of $103-$106 per barrel.
The average GHS/US Dollar exchange rate enjoys relative stability over the previous week’s rate.
The EU and U.S announce further sanctions against Russia.
Ghana’s current stock of petrol and diesel sees improvement as a result of establishment of Letters of Credit to BDCs.
Ghana’s consumption of petroleum products fall in June 2014 (Y-on-Y and M-o-M).
Average Dated Brent price for the week (published by Platts) decreased by $0.83 to $105.27 per barrel from the previous week's average of $106.10 a barrel, indicating 0.78% loss. Brent crude oil slipped as ample supply in the Atlantic basin offset geopolitical tensions in the Middle East, Africa and Europe. Michael Wittner, an oil analyst at French bank Societe Generale, said oversupply in the West African crude market was "a bearish sign". "The likelihood of a supply disruption remains extremely low as the ability of other regions to respond, particularly the US energy sector, remains high," analysts at Goldman Sachs led by Jeffrey Currie said in a note to clients. Also weighing on Brent crude oil was weak demand in Europe and Asia. However, Brent crude oil prices rose, reversing losses in the week, as fighting in Ukraine and deteriorating relations between Russia and the United States ignited new fears of supply disruptions in the market. "The escalation of hostilities is stoking supply fears, as the energy card is waiting to be played by Russia and the West as a way to inflict economic harm on each other," said John Kilduff, a partner at Again Capital LLC in New York
Free on board (FOB) prices of Petrol decreased by $11.85 to $982.10/MT from the previous week's average of $994.55, indicating 1.25% loss; Diesel went up by $3.15 to $886.90/MT from the previous week’s average of $883.75, indicating 0.36% gain while LPG went down by $17.80 to $790.00/MT from the previous week’s average of $807.80, indicating 2.20% loss, during the period under review. The relative stability of the Ghana Cedi against the USD, which depreciated insignificantly by 0.01%, increased marginally the contribution of the international prices of crude oil and petroleum products in the petroleum price build-up. The GHS/US Dollar exchange rate for the period 28th July 2014 to 1st August 2014 was 3.0350 (depreciated by 0.01%) compared to 3.0347 during the previous period. The GHS equivalent FOB prices of Petrol and LPG decreased by 1.24% and 2.19% respectively, while Diesel increased by 0.37% over the previous week’s prices.
The European Union and the United States announced further sanctions against Russia, targeting its energy, banking and defence sectors in the strongest international action yet over Moscow's support for rebels in eastern Ukraine. The measures mark the start of a new phase in the biggest confrontation between Moscow and the West since the Cold War, which worsened dramatically after the downing of Malaysian flight MH17 over rebel-held territory on July 17 by what Western countries say was a Russian-supplied missile.
Of the total stocks of Diesel and Petrol reported in the table, about 11.4 million litres and 36.7 million litres respectively are under financial hold. This brings operational stocks of Diesel and Petrol to last 1.3 weeks and 2.5 weeks respectively. This current stock of Diesel sees an improvement over last week’s stock to last of 0.2 week while Petrol’s current stock declines compared to last week’s stock to last of 2.9 weeks. According to the import schedule, Diesel of about 48.5 million litres was expected for delivery, while Petrol of 10.7 million litres was expected for delivery to add to existing stockpiles. LPG of about 7 million kilogrammes was also expected for delivery by close of the week (August 02, 2014). The CDU has been shut down since March 16, 2014 due to lack of crude oil while the RFCC shut down on May 19, 2014 for planned mini maintenance.
The statistical arm of the U.S. Department of Energy, the Energy Information Administration (EIA), reported in its Weekly Petroleum Status Report for July 25, 2014 that U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.7 million barrels to 367.4 million barrels while gasoline stockpiles increased by 0.4 million barrels to 220.9 million barrels. Inventories of distillate fuel, a category including heating oil and diesel, increased by 0.8 million barrels to 129.3 million barrels over the same period. Total commercial petroleum inventories decreased by 0.5 million barrels last week.
Demand and Supply
From Table 1, it can be observed that Ghana’s consumption of all petroleum products fell in June-14 from June-13 (year-on-year). MGO Foreign recorded the highest drop of 98%, followed by Kerosene (80%), Petrol (19%), ATK (13%) etc. The drop in MGO Foreign is partly due to the separation of Gasoil Rig from MGO Foreign in 2014.
Table 2 depicts Ghana’s consumption of petroleum products on a month-on-month basis. Consumption of all the petroleum products except ATK recorded drops in June-14 from May-14. The highest drop by half (50%) was recorded for MGO Foreign. Petrol and Diesel experienced drops of nearly a quarter (22.8% and 23%) each for the same period. This could mainly be attributed to BDCs inability to raise LCs from commercial banks to fund imports of these products. However, ATK recorded about a quarter (24%) rise in consumption in June-14 from May-14. This was mainly as a result of some BDCs failing to deliver their scheduled stocks and also coupled with Tema Oil Refinery’s inability to produce in the month of May-14. The situation was, however, returned to normalcy with the issuance of emergency cargoes to avert further deterioration of the situation.