According to the Institute of Energy Security (IES), a diesel shortage is on the way in Ghana.
Some oil marketing companies (OMCs) are already feeling the heat, as inspections by 3FM’s Sunrise at various pumps on Friday morning revealed that there was no diesel available.
According to the IES, the shortfall is due to the ongoing conflict between Russia and Ukraine.
“We have been following the market since the beginning of the year,” Fritz Moses, a Research Analyst at the Institute of Energy Security, told Sunrise on Friday, hosted by Alfred Ocansey, “but we don’t have a widely disseminated report on the scarcity in Ghana.”
“The worldwide market is experiencing some shortages as a result of the Ukraine-Russia conflict, which is also affecting the local market.” “Yes, we are seeing a decline in diesel supply in the foreign market, which will result in a shortfall in the domestic market.”
Mr. Moses warned that unless something is done as soon as possible, both locally and internationally, fuel prices will skyrocket.
“And the price of diesel has been rising for a few weeks.” We hope it will be resolved as quickly as possible because diesel is currently more expensive than gasoline. “
“Drivers should embrace themselves for more escalation due to what is happening in the foreign market,” the research analyst cautioned.
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