A pump attendant fills a car with fuel at the OlA petrol station, following country wide price hikes on March 15, 2022, in Nairobi. - African countries are feeling the pain of Ukraine's crisis as supply disruptions hike inflation and oil prices push up fuel costs. Global oil prices touched ten-year highs of more than $100 a barrel soon after Russia invaded Ukraine, doubling diesel prices for African countries like Nigeria. Ukraine and Russia are both major suppliers of wheat and grains to Africa and Western sanctions and disruptions are already hiking costs across the continent. (Photo by Simon MAINA / AFP) (Photo by SIMON MAINA/AFP via Getty Images)
There is a looming shortage of diesel in Ghana, the Institute of Energy Security (IES) has predicted.
Already, some oil marketing companies (OMCs) are feeling the heat as 3FM’s Sunrise’s checks on Friday morning at the various pumps indicate that there is no diesel at these fuel stations.
According to the IES, the shortage is as a result of the Russia-Ukraine war which seems not ending soon.
The Research Analyst at the Institute of Energy Security, Fritz Moses, who revealed this to Sunrise on Friday hosted by Alfred Ocansey explained that “we have been monitoring the market since the beginning of the year but we don’t have a wide spread report on the shortage in Ghana.”
“There is some shortage on the international market due to the Ukraine-Russia war which is also impacting on the local market. Yes, in the international market, we are seeing some drop in supply of diesel and that will cause a shortage on the local market”.
Mr. Moses warned that if nothing is done locally and internationally as soon as possible, the price of diesel will soar.
“And for some weeks now, the price of diesel has gone up. We hope it will be solved as soon as possible because at the moment, the price of diesel is now higher than petrol”.
The Research Analyst warned that “drivers should embrace themselves for further increment because of what is happening at the international market”.
Source: 3news
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