May 28, 2022

Shortage of diesel to hit Ghana due to Russia-Ukraine war – IES

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Institute of Energy Security (IES) has predicted a looming shortage of diesel in Ghana.


Already, some oil marketing companies (OMCs) are feeling the heat as some pumps indicate that there is no diesel at some fuel stations across the country.


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 the revelation in an interview, 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”.

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