Ghana faces another rise in fuel prices as COPEC warns of global oil surge

The Chamber of Petroleum Consumers (COPEC) warned that pump prices in Ghana could increase again this week as international crude oil and refined product prices continue to climb. Executive Director Duncan Amoah said the recent uptick reflects global market conditions, noting that "you cannot get it any cheaper at this time anywhere. Even in the United States, fuel prices that had declined have gone back up."

Amoah explained that the Tema Oil Refinery purchases crude on commercial terms at prevailing international rates, with no Brent‑minus or WTI‑minus pricing advantage, and that the dollar‑denominated purchases make exchange‑rate swings affect domestic fuel costs. He urged the Ghana National Petroleum Corporation and the Ministry of Energy to review supply arrangements and consider using locally produced crude to cushion consumers from persistent price rises.