Chief Executive of the Ghana Chamber of Oil Marketing Companies, Dr. Riverson Oppong, has assured that Ghana is unlikely to face an immediate fuel shortage despite rising tensions in the Middle East.
Speaking in an interview on Joy FM’s Top Story, Dr. Oppong explained that Ghana sources most of its fuel from Western markets, not the Gulf region.
“In the worst-case scenario, Ghana would not be affected by the unavailability of fuel since we don’t depend on the Gulf for our supply. Our imports primarily come from the Western market, including Abu Dhabi and the southern hemisphere,” he said.
Dr. Oppong noted, however, that the main concern for Ghana is the potential rise in international benchmark prices.
“We are fortunate to have protective pricing mechanisms. For instance, during the Israel-Iran conflict last year, Ghana did not feel any impact because we had already locked in our monthly purchase window.
“The same applies to the current period from March 1 to 15, which has already been priced. If the conflict persists, crude oil prices could rise unless COPEC increases production,” he added.
His remarks follow heightened fears of disruptions in global oil supply due to the escalating Middle East conflict.
Meanwhile, the National Petroleum Authority (NPA) has assured consumers that fuel supplies remain stable and that the country is well-positioned to manage any market volatility in the short term.
