The Executive Director of Energy News Africa Limited, Mr Michael Cregg Afful, says Ghana remains exposed to global oil shocks, and consumers should not expect fuel prices to fall anytime soon.

“The current global scene in terms of crude oil issues shows that Ghana is not yet out of the woods,” Mr Afful said.

Speaking in an interview on Rainbow Radio 87.5FM Frontline Show, he said that the international benchmark for crude has climbed to $96.20 per barrel, a level that is “seriously affecting nations” dependent on petroleum imports.

Mr Afful pointed to the ongoing US-Iran conflict as a major factor. The tensions, which escalated following joint US-Israel strikes that began on February 28, 2026, have significantly disrupted oil supplies. Threats and blockades in the vital Strait of Hormuz — a chokepoint for about a fifth of the world’s oil — have pushed up prices for crude, jet fuel, and gasoline globally.

“Although the conflict is not intensified, since it has not ended, Ghanaians shouldn’t say we’re expecting fuel prices to go down cheaper,” he cautioned.

Mr Afful commended the government for cushioning consumers by absorbing some taxes on fuel. He said the intervention was timely and aligned with public expectation.

“I commend the government for giving relief to Ghanaians by absorbing some taxes on fuel. This will help in some way because that’s what Ghanaians were expecting from the government,” he stated.

With global supply risks still active and crude prices elevated, analysts say tax adjustments remain one of the few short-term tools to ease pressure at the pump.

Source: Rainbowradioonline.com