Ghana likely to pay more for fuel due to Israel-Hamas-Hezbollah war – COPEC

The Chamber of Petroleum Consumers (COPEC) has warned that Ghana could face significantly higher fuel prices by the end of 2024 if tensions in the Middle East escalate and the cedi continues to depreciate.

Recent price hikes by Oil Marketing Companies (OMCs) have already raised the cost of petrol and diesel, causing concern among consumers.

COPEC's Executive Secretary, Duncan Amoah, stated that geopolitical tensions and a rising demand for fuel could further drive up prices, leaving Ghanaians to pay more at the pump without any safety nets to cushion against these increases.