Accra: The Executive Director of the Centre for Environmental Management and Sustainable Energy (CEMSE), Ben Nsiah, has issued a warning about a potential increase in diesel prices in Ghana, attributing the rise to ongoing joint US-Israeli attacks that are affecting international petroleum markets. This development is expected to impact Ghana's fuel prices during the second pricing window of March 2026.
According to Ghana Web, Nsiah emphasized that although fuel products are currently available in the local market, consumers should brace themselves for higher prices at the pump as the second pricing window approaches on March 16. He explained that the recent global price escalation is likely to have a significant impact on the domestic market.
In an interview with GhanaWeb Business, Nsiah highlighted diesel as a primary concern, forecasting a potential increase of at least 20 percent if current conditions remain unchanged. He noted the international market surge in diesel prices, which have risen from approximately $711-$775 per metric tonne to around $872 per metric tonne, marking an increase of nearly 30 percent.
Nsiah further elaborated on the implications of the US-Israel-Iran conflict on Ghana's fuel prices. He cautioned that if the conflict persists, prices could rise more than anticipated, particularly for diesel, which is projected to increase by at least 20 percent. He underscored the importance of hoping for a resolution to the conflict to prevent further price hikes.
While acknowledging the National Petroleum Authority's efforts to secure approximately five weeks of fuel stock as a commendable measure, Nsiah stressed the importance of additional proactive strategies. He recommended that authorities not only maintain reserves but also explore alternative petroleum supply sources to alleviate consumer pressure.