Diesel crosses GH¢11 mark

Diesel crosses GH¢11 mark

There’s been an astronomical increase in the price of diesel. This comes after the Institute of Energy Security (IES) projected that, Ghana is likely to face a shortage of diesel due to Russia’s invasion of Ukraine.

Diesel, which was previously sold at GH¢10.70 pesewas now sells at GH¢11.24 pesewas at various pumps.

Petrol, however, has seen a marginal decrease in its price as sells at GH¢9.35pesewas.

It was previously sold at GH¢9.80 pesewas after it crossed the GH¢8 mark.

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

The Institute of Energy Security (IES) on Friday, May 6, 2022 projected that Ghana is likely to face a shortage of diesel in the coming months.

According to a Research Analyst at the Institute, Fritz Moses, there is a shortage of diesel on the international market due to the Ukraine-Russia war.

Speaking on TV3’s Sunrise programme, Fritz Moses stated categorically that already, there is a drop in the supply of this petroleum product [diesel].

He said, “we have been monitoring the market since the beginning of the year but we don’t have a widespread 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,” he added.

Meanwhile, some Oil Marketing Companies (OMCs) in Ghana have been affected as there is no diesel at some pumps, a 3news report stated.

He, therefore, entreated drivers, and transport operators to embrace themselves up for further increment in the price of diesel.

ENERGY GHANA MAGAZINE

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