The Executive Secretary of the Chamber of Petroleum Consumers, Duncan Amoah, has warned that petrol and diesel prices in Ghana could soon rise to between GH¢13 and GH¢15 per litre due to supply disruptions linked to escalating tensions in the Middle East.
Speaking on Channel One Newsroom monitored by NR News on Sunday, March 15, Mr Amoah said the price adjustments currently being observed at some filling stations were expected earlier in the month but were delayed as Oil Marketing Companies (OMCs) temporarily absorbed the impact of rising global petroleum prices.
According to him, international prices for both crude oil and refined petroleum products had already surged, making a local increase in pump prices almost inevitable.
“It is quite surprising to hear people say prices have gone up now. This should have happened last week. Global prices have already gone up not only for crude but also for finished products,” he said.
Mr Amoah noted that many Bulk Distribution Companies (BDCs) had already adjusted their prices as early as last week, placing significant pressure on OMCs that held off on immediate increases at the pumps.
“I am sure the OMCs have taken a big hit because as late as last week Monday, a lot of the BDC prices were already high, and I am wondering how the OMCs have been able to survive another four to five days before adjusting their prices just yesterday,” he explained.
He cautioned that the current pump prices of about GH¢11 to GH¢12 per litre at some stations may not be sustained for long as the market begins to fully reflect global price movements.
“For those stations going around GH¢11 and GH¢12, the tendency to wake up tomorrow to about GH¢14 or GH¢15 on average is quite high. For petrol we are looking at GH¢13 to GH¢15, and diesel may be in the same range but could move to GH¢16,” he added.
Mr Amoah’s comments come amid growing concerns about the impact of global geopolitical tensions on fuel supply chains and petroleum prices in Ghana.
